Generally speaking if you cancel within the first 14 days most insurance companies wont charge a fee for cancelling but be aware that some will.

What is the penalty for cancelling auto insurance. Make sure you know which method your company uses when considering your options. So for example if you cancel in July but your annual policy lasts until December you may be entitled to a five-month refund. Fees or cancellation penalties can range from as low as 2500 to as high as some percentage of your overall premium.

2 Cancellation fees can vary from a set dollar amount up to a percentage of your overall premium cost. The percentage may only be charged if you have a balance of 200 or more on the policy due. Cancelling 14 days or more after your car bike or van policys start date.

The exact amount should make a difference in the decision you make. However if your policy has been active for longer than that youre likely to have to pay a cancellation fee and the cost for the time youve been insured pro-rata. Plug Drive policyholders pay 105 to cancel reduced to 75 during the first 14 days and LittleBoxSafe Driver policyholders pay a 155 cancellation fee reduced to 125.

They charge a 65 setup fee thats what they call it to cancel the policy and some other fees that they did not itemize. Yes if you choose to cancel your car insurance policy within the 14-day cooling-off period it is a legal requirement that youre granted a refund. Interestingly thats about equal to what they owed me back but they also said some other fees were added meaning I had a balance due for cancelling of about 6.

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43 rows To cancel a standard Admiral car insurance policy youll need to pay a 55 cancellation fee which is reduced to 25 if you cancel during the 14-day cooling off period. This is generally worked out on a pro-rata basis. For instance this is common if you cancel within 14 days after getting your new policy.