Fatberry Insurance Products Cancellation and Refund Policy

Customers who have purchased our insurance product through this website may apply for a refund or cancel of the insurance product purchased, subject to the terms and condition as listed in this policy. Please read through this policy carefully to understand our cancellation and refund policy.

  1. The premium for this insurance product cannot be refunded and/or cancelled. All request for the refund of premium of cancellation of this insurance product will not be entertained.

    • Motor insurance may be cancelled at any time by giving a written notice to us. Upon cancellation, the customer is entitled to a refund of the premium based on short-period rates provided that the customer has not made a claim. The rates as follows:
      Period of Insurance Percentage of Annual Premium to be Charged
      2 Months (Minimum) 40.00%
      3 months 50.00%
      4 months 60.00%
      5 months 70.00%
      6 months 75.00%
      Over 6 months 100.00%
    • For matters of refund and cancellation, all written notice must be sent to Fatberry and will thereafter be forwarded to the Insurer. The Insurer will process the request for cancellation and will be the party responsible for the refund.
    • The Insurer may give notice of termination by registered post to the customer at his or her last known address. Such termination shall become effective seven (7) days following the date of such notice. In the event premium has been paid for any period beyond the date of termination of this Policy the prorata premium shall be refunded to the customer provided that no claim has been made during the period of insurance then subsisting. This clause may only apply to certain Insurers, subject to the terms and conditions of the insurance product offered by the Insurers.
    • Customer’s motor insurance may be cancelled at any time by giving a written notice to us. Upon cancellation, the customer is entitled to a refund of the premium based on short-period rates provided that the customer has not made a claim. The rates as follows:
      Period of Insurance Refund of Premium
      Not exceeding 1 week 87.50% of the total premium
      Not exceeding 1 month 75.00% of the total premium
      Not exceeding 2 months 62.50% of the total premium
      Not exceeding 3 months 50.00% of the total premium
      Not exceeding 4 months 37.50% of the total premium
      Not exceeding 6 months 25.00% of the total premium
      Not exceeding 8 months 12.50% of the total premium
      Exceeding 8 months No refund of premium allowed
    • For matters of refund and cancellation, all written notice must be sent to Fatberry and will thereafter be forwarded to the Insurer. The Insurer will process the request for cancellation and will be the party responsible for the refund.
    • The insurer may also cancel this Policy by giving the customer fourteen (14) days notice in writing by registered post to the customer’s last address known to Fatberry. The customer will be entitled to a refund of premium if no claim was incurred prior to cancellation. Your refund will be the difference between the total premium and the customary short period rates provided above as calculated for the time the Insurer were on risk until the date of cancellation. This clause may only apply to certain Insurers, subject to the terms and conditions of the insurance product offered by the Insurers.
    • The Company shall at anytime by giving fourteen (14) days notice to the Insured by registered letter at the Insured’s address as last known to the Company, be at liberty to terminate and cancel this Policy, provided that the Company shall in that event return to the Insured a proportionate part of the premium corresponding to the unexpired period of insurance. This Policy may be cancelled by the Insured on fourteen (14) days notice to the Company and in such event the Insured shall be entitled to return of the premium less premium at the Company’s short period rates for the time this Policy has been in force during the then current Period of Insurance.
    • The following scale of short period rates shall apply
      Period of Insurance Percentage of Annual Premium to be Charged
      Less than 1 week 87.50% of the total premium
      Less than 1 month 75.00% of the total premium
      Less than 2 months 62.50% of the total premium
      Less than 3 months 50.00% of the total premium
      Less than 4 months 37.50% of the total premium
      Less than 6 months 25.00% of the total premium
      More than 6 months No refund of premium allowed
    • This Policy shall lapse/terminate at mid-night(standard Malaysian time) on the last day of the Period of Insurance. This Policy shall lapse/ terminate upon the Policy anniversary date that falls after the eighteen (80th) birthday of the Insured.
    • In the event of:
      • a disposal of the Named Vehicle by the Insured either by sale or transfer of ownership;
      • a theft or total loss of the Named Vehicle;
      • death of the Insured; or
      • payment of one hundred percent (100%) of the Sum Insured under Section 1(a) above to the Insured;
    • This Policy shall cease to operate and the Company upon written request of the Insured and surrender of the original Policy, shall cancel this Policy and premium to which the Insured shall be entitled for the unexpired Period of Insurance shall be in accordance to the Company’s short period rates.
    • This Policy, and all rights, obligations and liabilities arising hereunder, shall be construed and determined and may be enforced in accordance with the laws of Malaysia and the Malaysian Courts shall have exclusive jurisdiction hereto. No action at law or in equity shall be brought to recover on this Policy prior to the expiration of ninety (90) days after proof of claim has been filed in accordance to the requirement of this Policy.
    • All premiums shall be paid in Malaysian Ringgit. In the event that the Insured shall be admitted into a hospital and/or receive medical treatment outside Malaysia and render bills in a currency other than Malaysian Ringgit, the Company shall indemnify the Insured or his/her legal personal representative in Malaysian Ringgit based on the quoted exchange rate (open market rate if a free market, official rate if not a free market) at the date the Insured is discharged from hospital.
    • The Insured shall give immediate notice to the Company of any change in his/her name, residence, business or occupation. The Insured shall also give notice before any renewal of this Policy of any injury, disease, physical defect or infirmity by which the Insured has become affected or has knowledge of.
    • The Company reserves the right to amend the terms and conditions of this Policy and such alteration of this Policy shall only be valid if authorized by the Company and endorsed hereon.
    • Your Policy cancellation is subject to the following conditions:
      • Short-period refund or minimum premium payable for cancellation of the Policy by You,
      • Pro-rata premium will be refunded if we cancel the Policy at anytime by giving You seven (7) days' notice in writing,
      • No refund of premium for any deletion of Section III, Section IV and Section V. (Note: It is recommended that only the Optional Benefits elected by the policyholder are to be inserted in the policy jacket)
      • Period Not Exceeding Percentage of Rate Charged
        15 days 10.00% of the total premium
        1 month 20.00% of the total premium
        2 months 30.00% of the total premium
        3 months 40.00% of the total premium
        4 months 50.00% of the total premium
        5 months 60.00% of the total premium
        6 months 70.00% of the total premium
        7 months 75.00% of the total premium
        8 months 80.00% of the total premium
        9 months 85.00% of the total premium
        10 months 90.00% of the total premium
        11 months 95.00% of the total premium
        12 months 100.00% of the total premium