Ada Lovelace - Contract Termination

Has anyone here actually gone through the process of canceling their policy with that insurance company? I'd love to hear about your experiences. What does the procedure look like, and does anyone know if they hit you with heavy cancellation fees?
Thanks for the help, everyone.

I don't have a definitive answer for you, but my gut says they'll probably hit you with a 15% cancellation fee based on the policy value

I mean, look—they lost their license and yet they’re still out here bleeding policyholders dry (who, by the way, basically have zero rights)... so in my book, if they can't fulfill the contract, you shouldn't be paying a dime to walk away. It's like, if they break the deal, why should you pay the penalty? Right?

Your best bet is to just give them a call, though I'm betting they'll try to talk you into staying put by claiming some other private insurance companies are "taking over" their clients. But honestly, from what I've seen, none of those other big players even come close to the service package they used to offer 🤔

Keep me posted if you hear anything else, please

Don't stress too much about it. Around month five, you'll get a notification regarding the transition to a new insurance provider. That new company is legally required to offer the exact same coverage you've had up until now—at the same price—all the way through the end of your current policy term.
Since those other carriers (there are a few different insurance houses involved) also have to take over all the Ada Lovelace staff...
everything should work out smoothly for everyone involved—at least, I hope so.

fridge said:don't sweat it too much. around month five, you'll get a notice about switching over to a different insurance provider. that new company is required to cover the exact same services you've had up until now, and they have to keep it going until your current policy actually expires.
since those other companies (there are a few big insurance houses involved) also have to take on all the employees from Ada Lovelace.
it’ll all work itself out for everyone involved (i hope so)

so, did it actually work out?