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.
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)
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.
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.
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.
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.
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:
Unit 1 Clifton Mews
The insurers reserve the right to make additional enquiries to validate individual claims. Such enquiries can include:
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)
Policy Powerhouse Limited
0333 772 7453
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.
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.
The Compliance Manager,
Policy Powerhouse Limited
Once logged in select either of:
To change your password, once logged in you need to:
You can import multiple bookings onto the portal from a SuperControl report (Premier Cottage users only). The SuperControl report you need to download:
Once this has been done, log in to your Cancel Cover policy area and follow this process:
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.
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
Best practice booking terms and conditions
Cancellation claims will only be paid if the contract with the guest includes the following 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.
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).
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)
(applicable to total booking value)
Cost per £1,000