Can I canx car insurance if paying by DD and go elsewhere?

JennyW_2

Here's the story:

Currently with Privilige car insurance. I usually pay annually and my renewal is due towards end of November. However I'm due to change my car in December and if I pay annually with Privilige then I'm stuck with them. However if I was to start this renewal by paying D/D and then come December, have a look around to see if I can improve the quote with another company, can I canx, say after 1 month or will I get penalised? In other words is it perfectly OK to switch to another company after a month paying by DD? Not too sure of the legalities with this

Astaroth

Paying by DD will only add interest to the payment and in no other way changing anything.

If you cancel a policy mid term you will typically pay and admin fee (£15-50 is the typical range) plus a month to two premiums, the same for DD as annual payment other than with DD you have to pay the extra where as with annual you get a refund.

If you stick with your current supplier for now you may pay less cancellation fees.

Even if you do change vehicle you can just change the vehicle on cover - typically again there is an admin fee but it is normally less than the cancellation fee.

Tim_Dodd_2

Also, if you switch mid-term, you will probably lose any NCB you've built up for the current period.