Cancelling car insurance?

Question

if i decided to cancel my car insurance and go elsewhere would i have to pay a cancellation fee? if so how much is this likely to be? im with m&s (underwritten by bisl). also will my previous ncd be void because i wont have completed this current year due to cancelling early?

Answer 1

I've never had that happen. They calculate a day to day rate and send you a refund.Never cancel your insurance until you have a new one in place.

Answer 2

You must give seven days notice in writing to cancel.

Answer 3

Most companies will charge an admin fee to cancel your insurance. Usually £25 or £35.

Calculate how much the balance of your current policy is, if only a couple of months it might be better to just let it run out. (e.g. If your annual premium is £240, £20 per month and you have less than 2 months to run it may not be worth the hassle)

If you cancel mid-year your NCD will be as it was at the last renewal.  

Answer 4

You will have to ask them how much the fee is. Some companies make you pay the whole policy off before you can cancel so ask first. Don't go with Swinton's Insurance cos my BF has had nothing but trouble with them overcharging him cos they put the wrong info in. Good luck and i hope this helps.  

Answer 5

If you cancel before the year is up, considering you pay monthly by direct debit, you will have to pay the rest of the year for how many months are left on the policy. ie; if you have 3 months left, you will have to pay it up, and you may be liable to pay a cancellation fee too.

you NCB should not be affected.

Answer 6

different companies have various options you will need to ask them about the cancellations terms your NCB should be ok providing you have no claims pending

Answer 7

For automobile insurance the best way to get a low rate is do a rate comparison on auto policies. Make sure that you choose similar options with the same deductibles, car make, location, etc so that all things are a good comparison.



What I always recommend is an internet comparison quote at http://www.InsureAutoNow.info since they have discount insurers and can give many quotes on car insurance polices.

Answer 8

all insurance companies will short-rate your cancellation if you cancel before policy period ends, if you pay in installments then they charge a

cancellation fee, usually it's about $50