When you cancel an insurance policy, there are a few things you need to know about how refunds work.
Any refund is for the days remaining of your policy
When we give you the refund, it will be for days you didn't use of your policy (which is a year long). This is because you've already had the value of the days you were insured.
This is called a 'pro rata' refund.
You won't be due a refund if you made a claim
If you paid upfront for your insurance
If you paid upfront for your insurance and made a claim during the year, you won't be due a refund for the unused days of your policy. This is standard in the insurance industry.
If you paid monthly
If you paid monthly for your insurance and made a claim during the year, you will owe the remaining premium. Again, this is standard in the insurance industry.
Example:
You paid monthly for six months of the policy, then made a claim and had to cancel the policy due to not wanting to replace the car. The cost of the remaining six months of the policy is then due.