Car insurance cacellation fee - M&S/Fortis

ec07733

Hi,
i've just sold my car because i couldn't afford to run it and i phoned m&s (run by fortis) to ask them to cancel it. they said it's going to cost me £125 to cancel it, and because the direct debit is due out within the next couple days, if i don't cancel it in time, it's going to cost me £190! Add on to that the £60 that i would pay by my usual direct debit, thats actually £250 rather than £190! i of course expect to pay a small fee if i decide to cancel my policy before it expires but i really didn't expect it to be this much. is there any way around this? i really don't have that sort of cash . i've had my policy since 3rd Feb 2008. i'm probably looking to get another car in a few months when my cash situation eases (i'm on maternity leave at the moment). Thanks

ChloeRadshaw

Hi Hun

How much are you paying a year?

What car do you drive?

frugallass

that is pretty steep - we recently cancelled our car insurance and were charged £16 by direct line.

dunstonh

£125 wont be a cancellation fee.

More likely, you have to pay a cancellation fee of around £25-£50 but also have to pay the missing monthly payment equivalent to bring the policy to the next pro-rata cancellatin point. Monthly payments are often not in sync.

ec07733

hi chloe,
my insurance is £60 per month. im desperately trying to find a way around having to pay this fee.
anyone have any ideas? thanks