Frequently Asked Questions

Policy Powerhouse

General

Cancel Cover is a master policy insurance for holiday property owners/managers that covers 95% of the cost of an insured booking should that booking be cancelled by the guest between 60 and 2 days before the commencement of the booking.

  • The policy covers cancellation for any reason other than war, terrorism, epidemic or pandemic (including Covid 19)
  • If using the scheme all bookings for all properties must be insured
  • New bookings must be added to the scheme within 7 days of the booking being made
  • Cancelled bookings must be logged on to the system within 2 days of the booking being cancelled
  • You can stop using Cancel Cover at any time but if you stop using the facility you will not be able to re-join until the renewal date of 1 September
  • The property owner/manager must immediately re-list for sale any cancelled bookings
The product repays the property owner/manager up to 95% of the cost of a cancelled booking (including pre-booked optional extras). The coverage applies to cancellation by the guest between 60 and 2 days from the insured booking commencement date. The maximum value that can be insured is £15,000 per week (or £2,143 per day for part week bookings). Individual bookings of a greater value cannot be covered. If you are VAT Registered you will not be able to claim for the VAT element of the refund provided (you should only insure the booking value net of VAT).
Claims as a result of terrorism, war, epidemic or pandemic (this exclusion applies to cancellation arising from illness due to covid, the need to self-isolate or government travel restrictions). The VAT element is not covered if you are VAT registered (you should only insure the booking value net of VAT).
You can apply for a master policy by visiting the main Cancel Cover home page and clicking ‘get started’
  • Business Name (the policy holder/member)
  • Address
  • Email
  • Principal contact
  • Telephone number
  • Email
  • Booking platform membership number
  • Debit or credit card details against which premiums will be debited 5 days after the last day of each month

Policy Powerhouse is an insurance broking business focused upon niche insurance sectors providing contingency and property insurance expertise. The business operates as far as possible through its digital platform which has been created to provide exceptional customer engagement and seamless insurer reporting.

Policy Powerhouse is an appointed representative of Bennett Gould & Partners (Dorset) Limited which is authorised and regulated by the Financial Conduct Authority (firm Reference number 310780)

Bennett Gould & Partners (Dorset) Limited is our regulatory principal. Their parent company Bennett Gould & Partners Limited receives all premium payments. Their name will appear on your Bank/Credit Card statement.

The insurer details provided below can be checked on the Financial Services Register by visiting: www.fca.org.uk or contacting the Financial Conduct Authority on 0800 111 6768.

This insurance is underwritten by Insurance Company ‘Euroins’ AD authorised and regulated by the Bulgarian Financial Supervision Commission. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

A copy of the Master Policy Wording and history of your bookings and claims are available under the ‘My Policy Documents’ section of the Cancel Cover portal.
Cover for Southern Ireland, the Isle of Man or the Channel Islands is not currently available.
Your Master Policy will automatically cancel if you stop insuring your bookings (it is a condition of the policy that all bookings must be insured). If you stop using the facility, you will not be able to re-join until the common renewal date of 1 September but valid claims on insured bookings will continue to be paid.

Cover commences 60 days before the check in date and stops 2 days before the check in date

Example: A check in date of 3/12/21 at 16:00 would be covered from 16:00 on 5/10/21 until 16:00 on 1/12/21.

For the avoidance of doubt each booking on the Cancel Cover portal clearly shows the cover commencement date (60 days before check in).

If you are a Cancel Cover customer, we encourage you to market this fact to customers. It is fine to use the wording: “Our bookings are protected by Cancel Cover.” You can use the ‘Protected by Cancel Cover’ logo on a white background or the ‘Protected by Cancel Cover’ logo on a transparent background in your marketing collateral. 

Unfortunately, only new bookings received after you have set up your master policy can be insured.

If you are registered for VAT you can claim for the full amount of the booking including VAT provided that you have insured the booking value inclusive of VAT.

Registering a booking

  • Booking date
  • Arrival/departure dates
  • Property name
  • Booking number or reference from your booking platform (i.e. Supercontrol)
  • Booking value and extras as defined in ‘What extras can be included?’ section of FAQs (net of VAT if you are VAT registered)
Each booking must be registered on the Cancel Cover portal within 7 days of the booking date.
Where you combine two or more of your existing properties together to create a bigger or alternately named property which your clients can book, these must be defined within Cancel Cover as a unique property. By example, if you had Fox Cottage and Hen Cottage within your portfolio and these can be independently booked, they should be listed as two separate properties. If you also offer your clients the opportunity to book them both together as one larger property, then you should create an additional property using the name you normally give it. In this case FoxHen Cottage but in your case, it might have a completely different third name.
Subject to paying a premium for the full value of the booking including extras, items such as fees to accommodate dogs are included within the cover. The policy does not include coverage for hire of non- residential event accommodation such as conferences, banqueting, weddings, sporting events (golf, etc.), or any other catering or personal services.

Changing my policy

Please log in and visit your Member Profile page which you can reach by clicking on your name on the top right-hand side then selecting ‘Profile’

If your holiday cottages are sold and your purchaser wishes to continue with the insurance contract it is up to you to establish and agree with the purchaser, the value that you feel is appropriate for the insurances already in place and add this to the purchase price.

Upon receiving your instruction, Policy Powerhouse will provide a novation agreement which allows you to assign the benefit of the existing cover to your purchaser. Your purchaser would then set up a new master policy for their benefit for new bookings from that point forward

If you do not want to provide the benefit of the insurance cover to your purchaser, you can apply for a refund of premium for all policies that are not yet in force (greater than 60 days before check in date). Any policies that are on cover (within 60 days of check in date) cannot be refunded.

Claims

A cancelled (insured) booking must be notified to Cancel Cover through the Portal within 2 days of notification of cancellation. This is notified through the bookings page, selecting the specific booking and clicking the option to make a claim.

A condition of this insurance is that you must re-market the period of the cancelled booking as quickly and effectively as possible.

If the cancelled (insured) booking is re-let for an equivalent or greater amount than the refund amount, no claim exists. If the insured booking is not re-let or re-let for a sum less than the refund given a claim should be submitted no earlier than the last day of the booked period and no later than 31 days after the booked period has expired.

Download the Cancel Cover claim form.

All claims are managed by:

MAYDAY CLAIMS

Unit 1 Clifton Mews

Clifton Hill

Brighton 

BN1 3HR

East Sussex


Claims@maydaytravelclaims.com 

01273 442492

The insurers reserve the right to make additional enquiries to validate individual claims. Such enquiries can include:

  1. Confirmation of the reason for and timing of cancellations
  2. Validation of efforts made to remarket cancelled holidays
  3. Confirmation that the booking was a valid booking (both by value and in totality)

In most cases further enquiries to validate individual claims will not be required, however random auditing and focus upon unusual frequency or circumstances of claims will be investigated and insurance fraud will be treated as a serious, criminal matter.

A claim is paid to an owner who has effectively lost income, the purpose of the insurance is to compensate for the lost revenue. The calculation of that lost revenue for an owner who is VAT registered exludes the VAT element.

As an example, based on the current hospitality standard rate of 12.5% VAT (prevailing rate applicable to the booking):

£1,000 claim for lost revenue is made up of £888.89 booking value and £111.11 VAT. The VAT is no longer paid by the owner and therefore the loss is £888.89, and this would be the amount of the claim.

As VAT is not recoverable under Cancel Cover you should only insure the holiday cost net of VAT (if you are VAT registered)

Contacting us

Policy Powerhouse Limited
The Granary,
Hermitage Court,
Hermitage Lane,
Maidstone,
Kent
ME16 9NT

0333 772 7453

hello@policypowerhouse.co.uk

You can put cover in place or register a claim at anytime on our website but if you have a problem or issue you need to discuss with a human, our phone lines and chat tools are available Monday – Friday 9am – 8pm

Renewals

Cancel Cover Master policies have a common renewal date of 1st September each year. You will be notified by us at least 30 days prior to renewal of any changes to the terms and conditions of Cancel Cover.

Payments

Prior to completing your first booking, you will be asked to supply either your bank account details or card details directly to our payment provider (Trust Payments) for premium to be deducted on a monthly basis, relating to bookings in the previous month.

All premium relating to registered bookings during a month will be collected by direct debit within the first 5 days of the following month (the month of booking). You will automatically be emailed your statement a minimum of 3 days prior to the payment deduction date, showing the amount that we will take.

Sorry we are not able to accept payment by cheque
Please visit the Cancel Cover portal and amend your details within your profile, on the top right-hand side where you will have the option to change payment details.

When a booking is cancelled by the Guest outside of the 60 to 2 days policy period a credit of premium will be allowed to be used against future bookings.

A credit will be seen on the statement issued on the first day of the following month.

Complaints process

The Compliance Manager,
Policy Powerhouse Limited
The Granary
Hermitage Court
Hermitage Lane
Maidstone
Kent
ME16 9NT

Email: CancelCover@Policypowerhouse.co.uk

Using the site

Once logged in select either of:

  • Booking list – then top right-hand side ‘add new booking’ and follow instruction
  • Dashboard>Cancel Cover>add new booking and follow instruction

 

To change your password, once logged in you need to:

  • Click on your name in the top right-hand corner
  • Select ‘Profile’
  • Click on the purple ‘change password’ link and follow instruction

You can import multiple bookings onto the portal from a SuperControl report (Premier Cottage users only). The SuperControl report you need to download:

  • Bookings>Search bookings>All boxes ticked>Select specific date range and then run it/download it
  • Save the file as a .xlsx (‘save as’ – then choose the option for .xlsx (Excel file) into a location you can easily access (desktop or downloads probably best)

Once this has been done, log in to your Cancel Cover policy area and follow this process:

  • Dashboard>Cancel Cover>Upload/Extract from file
  • Browse>then select the file you have saved as a .xlsx (Excel file)
  • Upload file

If the file is accepted, then you will be presented with a summary of the bookings to agree and approve. Once confirmed the bookings will be automatically inserted into your booking list. If the file is NOT accepted, then anything unusual will be shown in red. If the holiday cottage name is different on the SuperControl report to your Cancel Cover list, please edit the cottage name in your Cancel Cover list to match the name in the SuperControl report. Other errors will need to be manually corrected on your file before re-uploading.

Tips

As your bookings all come from SuperControl it is unlikely there will be any errors but, please contact us to discuss any issues that you cannot correct. Although this process may look challenging, once you have completed the first upload it will be a straightforward process

Booking Conditions

Best practice booking terms and conditions


Cancellation claims will only be paid if the contract with the guest includes the following terms:

 

“Cancellation terms:

Bookings placed AFTER x/xx/2022 (insert applicable start date) are covered by our Cancel Cover Policy, and are subject to the following terms:

If you cancel up to and including 2 days before check-in date for any reason OTHER THAN CORONAVIRUS ILLNESS OR SELF-ISOLATION*, you will receive a refund of 95% of the accommodation costs you have paid. Refunds for payment for cancelled bookings will be released back to the cancelling guest at the latest within 2 weeks of cancellation. Cancellations made 1 day before, or on the day of arrival will not be eligible for a refund. 

Example: for a check-in on Saturday, you could cancel on the previous Thursday before 16.00 and be reimbursed in full, but not on Friday (1 day prior) or Saturday (day of check-in). 

*We are not able to cover you (or members of your party) for being unable to travel because you (or a member of your party) fall ill with Covid or are required to quarantine or self-isolate. These events can be covered by you taking out travel insurance. There are a number of policies that include cover for illness with Covid and self-isolation (example links below), and a lot of bank annual travel policies also cover this. 

For this reason, we strongly recommend that you also take out your own travel insurance for UK holidays which covers booking cancellations. This is available at very affordable rates and gives you the peace of mind that you will get your money back if you need to cancel your holiday. If you choose not to, then you accept responsibility for any loss that you may incur due to your cancellation not falling within the terms of our cover. You can look for suitable cover on comparison sites such as GoCompare.

Payment

Bookings are confirmed on receipt of the booking form and on receiving a deposit of XX (minimum 25%) of the holiday cost. The balance of the rental will be due for payment 30 days (or longer) prior to the arrival date; you will be sent email notification that the balance is due. If your payment has not been received 30 days prior to the arrival date, we will assume that you wish to cancel. If the booking is made within 30 days of the arrival date, then payment will be due in full.”

Note: The above wording is for guidance only but does reflect Cancel Cover Master Policy key exclusions and conditions. Cancel Cover excludes: Coronavirus, epidemic and pandemic, war and terrorism. As your guests can obtain travel insurance covering Coronavirus, you may wish to exclude refunds for this as per the above wording. You may have to provide a full refund for the other perils excluded by Cancel Cover (epidemic, pandemic, war and terrorism).

Policy Wording and Summary

Yes, please click on either of the links below to see and download the policy wording or the policy schedule, which breaks out the key components of the product

Policy Wording

Policy Summary

Premiums

The price of the policy is based upon the holiday booking value (net of vat if you are vat registered) including pre-paid extras as defined. 

You can choose the level of cover and the premium you pay:

Amount of the refund covered

(95% of the total booking value)

Rate (premium)

(applicable to total booking value)

Cost per £1,000

booking value

100%3.98%£39.80
90%3.58%£35.80
80%3.19%£31.90

 

download the cancel cover logo

Use the Cancel Cover logo which a white background or with a transparent background across your collateral when you become a member.