Octagon Insurance is a trading name of Horizon Insurance. One Quote Direct, a trading name of Europa Group, administers policies for Octagon because it is registered in Gibraltar. Following the referendum results for Brexit in 2016, Octagon decided to change its status as an insurer to a Managing General Agent instead. This means that Octagon stopped accepting new customers or renewing existing policies from 31st December 2016. Any policies renewing from 1st January 2017 may have been contacted by One Quote Direct instead, as they already managed Octagon’s policies. If you still have an existing policy and want to cancel your Octagon Insurance, you can follow the steps written in the guide below to cancel your cover.
Cancel by Telephone
1) Contact Octagon Insurance by calling 0344 800 3694. They will tell you what to do in order to discuss your insurance policy with them. If you renewed your policy after a certain date, it will have been with One Quote Direct. Therefore, they will give you the contact details for One Quote Direct so you can cancel there.
2) When you discuss your policy, you should have the relevant documentation to hand so that you can give details like your policy number. You can also refer to the terms and conditions of your policy regarding the fee for cancellation. Octagon would deduct £20 from the unused premium refund for cancelling within 14 days. They would charge £50 for cancelling mid-term. They also request that you return your certificate of insurance to them. One Quote Direct does the same, except they charge £25 for cancelling within 14 days.
3) Please remember that cancelling Direct Debit payments to Octagon Insurance or One Quote Direct will not cancel your policy. This may result in them cancelling your policy for you after a while, but you would still be liable for any unpaid premiums for that duration of cover, plus any late payment fees they decide to apply. You need to contact Octagon Insurance or One Quote Direct directly to notify them of cancellation.
Previously, Octagon Insurance customers could visit the Octagon website and click to go to the “My Octagon” section. This is where customers could log in to access their insurance policy information.
However, since ceasing business, the Octagon website has changed and is apparently under construction.
Their old FAQs and the “Contact Us” page with the live chat function are no longer available to access. This means that you will have to refer to your physical copies of your Octagon Insurance documents, if you have them. However, here is an example of the “Cancellations” section of their general insurance policy terms and conditions. As it says, you should discuss the cancellation with them first before definitely cancelling.
Another way to contact Octagon Insurance to discuss cancelling your policy is to send them an e-mail at either email@example.com or firstname.lastname@example.org. If you are unable to get in touch with Octagon Insurance about your policy, and they do not address further attempts to contact them or complain, then you should contact the Financial Services Ombudsman to get assistance.
Cancel by Post
You can write a letter to Octagon Insurance at the address at the bottom of the page. You can also write a letter to One Quote Direct at the same address, if you change the recipient company name on the top line. This will take longer for them to process and they will also probably need to contact you back to discuss the terms of cancellation. To this end, include your preferred contact information in the letter, along with your policy details and cancellation instructions. You should send it through a recorded delivery service so that you will have a record of them receiving it. This could be important if they fail to cancel your policy.