Help with HI & CI on monthly DD

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
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bommerbommer Forumite
194 Posts
edited 30 November -1 at 1:00AM in Insurance & Life Assurance
Does anyone know if you can cancel home insurance or car insurance half way through year if you pay by direct debit?

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  • dunstonhdunstonh Forumite
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    Car insurance is an annual contract. If you cancel half way through the year, you will not get a penalty applied normally.

    House insurance is sometimes the same but usually cancellation of the insurance from X date in any point of the year will not result in a penalty charge.

    Cancellation of a direct debit does not cancel the insurance. It just stops the payments going through. The insurer is likely to continue the cover and come after you for the payments (more so on car insurance and unlikely on household). So you should cancel it with the insurer directly.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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