Insured my car yesterdy,but found cheaper one now,do i need to pay cancellation fee still,ive not sighned?

Question

hi every one, i renewed my car insurance yesturday, but have now found one cheaper,the insurers are saying that i now need to pay the cancellation fee, are they right?ine not sighned nothing, but verbal on the phone.

Answer 1

Yes.  Any time you cancel a policy, not on the expiration date, the cancellation fee applies - as can a short rate penalty.

Answer 2

It should be no problem. I personally did so while switching to my current insurance ( http://carquotes.imess.net ) - just because I found it cheapest one for my family.

Answer 3

Verbal  seems to be legal, But,! Usually an insurance policyhas a cooling off period, Usually about 3 days.

Get some advice and check on this. Don't let them s***w You over.

Answer 4

yes they are right and normally you do not have to sign anything to renew your auto policy.  it is continuous and once you make the renewal payment you have accepted the renewal terms.  they have to have you sign the cancellation form and your cancellation will be based on a short rate. (means basically you are paying a penalty for cancelling)