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Will I get my initial payment back if I cancel my policy?
Will I get my initial payment back if I cancel my policy?
The Marshmallow Team avatar
Written by The Marshmallow Team
Updated over a week ago

After you cancel your policy, we will calculate your refund or the amount of money that you owe us.

We calculate refunds on a pro rata basis which means that you will only pay for the time you've had on cover with us. For example, if you cancel your policy 5 days after your policy started, we would deduct 5 days of cover from your initial payment.

More information about cancelling your policy

If you bought your policy less than 14 days ago , you will be charged a £30 admin fee to cancel your policy.

If you cancel your policy after the 14 days, then the fee will depend on your plan:

  • If you are on a Lightest plan, your cancellation fee will be £125

  • If you are on an Essential plan, your cancellation fee will be £100

  • If you are on an Original plan, your cancellation fee will be £75

  • If you are on a Plus plan, your cancellation fee will be £60

Your cover will end at 23.59 on the day you choose to cancel your policy.

We will process your refund to the card on file. Please note that your refund may take 5-10 days to reach your account, depending on your bank's processing time.

Learn more about how to cancel your policy here.

The Legal Stuff

It’s a legal requirement that any vehicle that requires road tax and is allowed to be used on public roads is also insured so if you do cancel your policy you must get insurance elsewhere.

Please also make sure your balance is cleared before your account is closed. We reserve the right to use a debt collection agency to collect any outstanding payments after this point.

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