Withdrawal policy

Details
Section 1: Right of withdrawal, consequences of withdrawal and special information

Right of Withdrawal

You can cancel your contract declaration in writing (e.g. letter, fax, e-mail) within a period of 14 days without giving reasons. The withdrawal period starts after you

  • the insurance certificate,
  • the contract terms, including the general insurance conditions applicable to the contractual relationship, these in turn including the tariff regulations,
  • this instruction
  • and the other information set out in Section 2

have each been received in text form.

To meet the withdrawal period, it is sufficient to send the cancellation in good time.

The revocation must be sent to:

Baobab Insurance GmbH
Jaegerstraße 27
10117 Berlin, Germania
email: contact@baobab.io

Represented by: Vincenz Klemm
Register court: Charlottenburg District Court (Berlin)
Register number: HRB 230973 B
VAT identification number: DE 344 813 395

Withdrawal consequences

In the event of an effective cancellation, insurance coverage expires and we as Baobab Insurance GmbH will refund you the portion of the premiums relating to the period before and after receipt of the cancellation, if you have agreed that insurance coverage begins before the end of the withdrawal period. Baobab Insurance GmbH must refund repayable amounts immediately, at the latest 30 days after receipt of the cancellation.

If insurance coverage does not start before the end of the cancellation period, the effective revocation has the result that benefits received must be returned and uses drawn (e.g. interest) must be returned.

Special notes

Your right of withdrawal expires if, at your express request, both you and the insurer have fulfilled the contract in full before you have exercised your right of withdrawal. The right of withdrawal does not apply to insurance contracts with a term of less than one month.

Section 2: List of further information required for the start of the deadline

The insurer must provide you with the following information:

  • The identity of the insurer and any branch through which the contract is to be concluded; the commercial register with which the legal entity is registered and the associated registration number must also be specified;
  • The summonable address of the insurer and any other address relevant to the business relationship between the insurer and you, in the case of legal entities, associations or groups of persons, also the name of an authorized representative; insofar as the notification is made by transmission of the contract terms, including the general insurance conditions, the information must be in a prominent and clearly designed form;
  • the insurer's main business activity;
  • The main characteristics of the insurance benefit, in particular information on the type, scope and due date of the insurer's benefit;
  • The total price of the insurance, including all taxes and other price components, the premiums being shown individually if the insurance relationship is intended to include several independent insurance contracts, or, if an exact price cannot be specified, information on the basis of its calculation, which will enable you to verify the price;
  • Any additional costs incurred, including the total amount to be paid as well as possible further taxes, fees or costs that are not paid by or invoiced by the insurer;
    costs that you incur for using means of distance communication when such additional costs are charged;
  • details regarding payment and fulfillment, in particular the method of payment of the premiums;
  • The period of validity of the information provided, for example the period of validity of fixed-term offers, in particular with regard to the price;
  • information on how the contract is concluded, in particular about the start of insurance and insurance coverage and the duration of the period during which the claimant is to be bound by the application;
  • The existence or non-existence of a right of withdrawal as well as the conditions, details of the exercise, in particular the name and address of the person to whom the withdrawal is to be declared, and the legal consequences of the withdrawal, including information about the amount that you may have to pay in the event of the withdrawal; insofar as the notification is made by submitting the contract terms, including the general insurance conditions, requires a highlighted and clearly presented shape;
  • information on the duration of the contract;
  • Information on the termination of the contract, in particular on the contractual termination conditions; insofar as the notification is made by transmission of the contract terms, including the general insurance conditions, the information requires a highlighted and clearly designed form;
  • The law applicable to the contract, a contract clause on the law applicable to the contract or via the competent court;
  • The languages in which the contract terms and the advance information referred to in this subsection are provided and the languages in which the insurer undertakes, with your consent, to communicate during the term of this contract;
  • Possible access for you to an out-of-court complaint and appeal procedure and the requirements for this access; it must be expressly pointed out that the opportunity for you to seek legal action remains unaffected by this;
  • Name and address of the competent supervisory authority and the possibility to lodge a complaint with this supervisory authority.

End of cancellation policy

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