In the UK. I am about to buy a new car and want to cancel insurance on my old car and get insurance from a different (cheaper) company for my new car. Is this possible?
2006-07-31 03:43:27 · 10 answers · asked by ME 3 in Cars & Transportation ➔ Insurance & Registration
I am paying in monthly instalments, can I just cancel the direct debit?
2006-07-31 03:50:30 · update #1
Yes, you can cancel, however you dont always get any money back! So buyer beware, they may only give a proportion of what you think you should get back, that is if you have paid for the whole year up front. If you pay by direct debit, always cancel the DD with the bank, dont just rely on cancelling the policy with the insurance company as they will continue to try to take funds
2006-07-31 03:46:02 · answer #1 · answered by SunnyDays 5 · 0⤊ 0⤋
Sure, you can cancel an insurance policy at any time by notifying your agent. But if you do, when you get your new car and they ask "Do you have insurance now?" you will have to answer no, which will put you in a much higher priced policy. Why not just get your new car and transfer the old policy to the new car?
2006-07-31 05:05:13 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
You can cancel insurance with a company by returning your policy and requesting it be cancelled.
2006-07-31 03:49:14 · answer #3 · answered by meg 1 · 0⤊ 0⤋
Depends on your insurance company - you may not get back the res of what you paid for the year or there may be a basic penalty fee. Call them and check it out - it might be best to wait until the end of the policy then change company when you renew.
2006-07-31 03:49:18 · answer #4 · answered by peggy*moo 5 · 0⤊ 1⤋
Yes, you can cancel and you would get the pro-rated portion of your payment back.
For example, say your insurance is $100/month and it is due and you pay it on the first of the month.
If you cancel on the 15th, or halfway through the month, you will get $50 back.
2006-07-31 13:37:03 · answer #5 · answered by Stupid Flanders 7 · 0⤊ 1⤋
yes just inform your insureance company that u no longer own that car and that u wish to cancel the insurance with them but rember b4 u cancel the policey contact your bank and cancell the direct debit mandate with the bank firstly
2006-08-01 12:57:38 · answer #6 · answered by JOHN R 2 · 0⤊ 0⤋
Why don't you just the ring insurance company and ask
The installments you hav paid before if you canceal - aint getting back.
2006-07-31 08:24:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes, just notify the company and they owe you the remainder of the premium, pro rated with possibly a surcharge.
2006-07-31 03:52:10 · answer #8 · answered by science teacher 7 · 0⤊ 0⤋
Yes, but as already indicated you will lose out.
So it might just be cheaper to stay put after all!
2006-07-31 03:47:50 · answer #9 · answered by 'Dr Greene' 7 · 0⤊ 0⤋
you can cancel it but they don't have to refund you the money.they can use what you ve paid towards the new car.
2006-07-31 04:40:00 · answer #10 · answered by yougotsmith 4 · 0⤊ 0⤋