When you buy motor insurance, you have a 14-day period in which you can cancel the policy for any reason and get a refund. The 14 days start from the day your policy starts.
Your refund if you cancel within your cooling-off period
Refunds for annual payers
If you paid upfront, you'll still be charged a set up and cancellation fee, but it's lower than if you cancelled after 14 days. You'll get a refund for the days you haven't used of your policy year as long as you haven't made a claim. For example:
You cancel on day 3 of your policy
You get a refund for the remaining 363 days, minus any fees
Refunds for monthly payers
If you pay monthly, you'll still be charged a set up and cancellation fee. You'll get a refund for any days you won't use in that month. For example:
You cancel on day 3 of your policy
You get a refund for the remaining 25 days of that month, minus any fees
What is the fee for cancelling your policy within your cooling-off period?
You will pay a fee to cancel your policy. Please check your policy wording for the fees that apply to your policy. You can find all our fees on our website, just scroll to the bottom of the page and choose your policy start date.
If you're thinking about cancelling your policy before your full year is up, it's worth careful consideration. Often people cancel because they've found a better offer, but a cheaper price may be down to less cover than your current policy. In addition to this, the fees you pay to cancel your policy (as with any insurer) may mean you won't save money by cancelling early. Just talk to the team and we'll see if we can help.