Cancelling car insurance

Allan87

I'd like to cancel my premium and take out a policy with another company, is it legal to take out the new premium and then cancel the existing or do I have to cancel the existing first?

mk-donald

First read your existing policy's terms re cancellation - there's no hard-fast rule - you entered into a contract for probably one year, and the terms for early cancellation will apply unless they are GROSSLY unfair (and hence can be struck down by the Unfair Contract Terms legislation). You may find that the refund has so much deducted that the grass isn't that much greener elsewhere.

Otherwise there's nothing to stop you insuring yourself against the same risk more than once, HOWEVER there's rules the courts will follow as to which company is responsible should you need to claim and thus preventing you benefitting twice from your double expenditure.

Be far better to ensure HOW (eg in writing or by phone) and with what £££ refund if/when you can cancel first before setting up a 2nd cover.