30 Days Notice of Cancellation Clause

30 DAYS NOTICE OF CANCELLATION CLAUSE #

It is hereby declared and agreed that both the Insurer and the Insured are entitled to cancel this insurance at any time without given reason therefore. Such cancellation shall however only become effective on the expiration of 30 (thirty) days from midnight of the day on which notice of the cancellation is issued. If the Insurer cancels the insurance he is obliged to return the pro-rata premium for the unexpired period of insurance. If it is the Insured who cancels the insurance, premium will be calculated on the short term rate for the completed period of Insurance.