Anyone who has ever had the misfortune to have a pushy salesperson in their home, flogging them something that they do not need, will be pleased the law is now on their side. You are allowed to cancel these contracts within certain timescales.
As far as business insurance is concerned, there is a period of 14 days during which you can, if you decide, ask for the policy to be treated as null and void, or cancelled from inception. This applies particularly to policies bought over the phone or the internet. The idea being that if you have not had a chance to fully review the contract, before purchase, that you then get a full 14 days to sit down and review this yourself.
There ae customers, very occassionally, who you know are only purchasing a policy to satisfy some legal requirement. They are only taking it out to get the documentation in the full knowledge that they are going to cancel, and demand back all of their monies (if paid). You could technically go on doing this for a while, but eventually a liability claim could turn up on your doorstep and you have no cover whatsoever.
If you are looking for a good quality, competitively priced restaurant insurance policy, for example, then you just need to give Businessinsure a call. There is no need to take out policies and then cancel them straight away because we are confident that the premiums we quote are at such a level as to allow you to keep the policy for the whole year.