I took out a policy with Picnic…worse mistake ever
I took out a policy with Picnic Insurance for £575 but decided to cancel it 1 day later, 24 days before the policy is due to start. I was surprised to find that I wouldn't receive a full refund and would still be left around £25 out of pocket.
What I find particularly misleading is the wording in their FAQ. It states that if you cancel within the first 14 days, they "may keep the arrangement fee." In reality, they did keep the fee in my case. If that's their standard practice, then the wording should be clearer and simply say "we will keep the arrangement fee" rather than "may."
I've had car insurance with several other insurers over the years and haven't experienced cancellation terms like this. It left me feeling disappointed and misled, especially as I cancelled well before I needed the policy. I will be reporting Picnic to the ombudsman and in addition trying to reclaim the full amount from my bank.








