cancellation fee??

sugarplum10

We have sold on our car and have cancelled the car insurance with last week.
I paid the year in full but have 2 months remaining which equates to approximately £45.
I have just received a letter from them (monday morning) stating that their cancellation charge is £75 and that my details will be sent to their collections department for any outstanding balance.
Soooo, do I just loose the £45 which I don't mind or will I owe them £30???
I don't mind loosing the remainder of the policy, but I cant understand how them not having to cover me means that I will owe them money??
Can someone advise as i have emailed them twice and gotten no reply and I emailed monday and weds! Thanks

forgotmyname

You owe them money because the cancellation charges are more than the money they owe you.

Check the terms and conditions. Have you made any claims or had any incidents? If so you may have to pay the full amount + the charges.

Quentin

With most insurers their refund policy will mean little or no refund gets paid if the policy has run 9 months or more. Ask them about this.

The £75 sounds their (separate ) cancellation fee which is what they say they will chase you for. To be sure, ask them to itemise the £75 for you.

sugarplum10

aww crap- so it has cost us more to cencel than to just let it run its course! Bummer! I guess ill just have to pay it then