📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Help with HI & CI on monthly DD

Does anyone know if you can cancel home insurance or car insurance half way through year if you pay by direct debit?

Comments

  • dunstonh
    dunstonh Posts: 119,543 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.6K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.6K Work, Benefits & Business
  • 598.3K Mortgages, Homes & Bills
  • 176.7K Life & Family
  • 256.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.