How to Cancel Hiscox Liability Insurance

Subscription in Few Steps

Hiscox Liability Insurance Refund Policy

A prorated refund may be possible if you terminate your policy. This means that the remaining premium will be sent to you as cashback. However, there might be administrative charges and penalties specified by your agreement. You must consult the terms and conditions of your policy or contact the Hiscox representative to know how much rebate is due to you.

How Much Can You Save After Canceling Your Hiscox Liability Insurance

A lot can be saved from discontinuing Hiscox Liability Insurance. The savings amount depends upon your policy's annual premium. For example, suppose one's yearly payment amounts to $1,200, and they terminate their plan before or after paying their last premium installment. In that case, they have saved one year's amount entirely or partly, but it is omitted completely at cancellation. Such monies could be re-invested into alternative financial aims, such as investments.

Where to Invest That Amount?

Small Business Investment

Investing in a small business can generate high returns. This encompasses injecting direct equity into the business or lending money to it.

Dividend Stocks

Dividend stocks are shares of companies that return profit to shareholders at regular intervals. They can yield an income stream over time and offer capital growth opportunities.

Stock Market

Buying individual shares makes you a partial proprietor of publicly traded enterprises. This is one of the most common ways of investing and has the potential for high profits, especially when detailed research and diversification are done.

Alternatives to Hiscox Liability Insurance

Thimble

Thimble provides flexible coverage for small business owners and freelancers. It is known for its on-demand policies, which allow gig workers and small business owners to buy coverage by the hour, day, or month. Its simplified app expedites the process of getting proper insurance.

Superscript

Superscript offers customized insurance to new start-ups and small enterprises with various industry-specific demand coverages. The company's online platform facilitates a more effortless purchasing experience through quote request forms, policy documents, coverage management facilities, etc. Superscript's flexibility and contemporary outlook make it an excellent option for expanding firms.

Conclusion 

If you no longer want insurance, consider canceling your subscription to Hiscox Liability Insurance. Starting an intelligent financial journey seems challenging at first. However, Beem can help you! Plan budgets, send and receive money, invest in personal loans and retirement plans, and find more options on this digital wallet app!