Can I cancel my policy?

romanymoon

Just over two years ago, I had an accident in a large store causing injuries. I decided to make a personal injury claim using the legal expenses part of my home contents insurance, as I thought this would serve me better than going down any other route. The claim is still ongoing, but my insurance company has put up my premiums quite considerably and I would now like to cancel this policy as I can no longer afford it. I'm a pensioner on a basic pension and pension credit. My question is, if I cancel this policy will my claim still go ahead? This is my first personal accident claim, but it has cost me a small fortune so far through no fault of my own. I feel as though I'm being penalised for something caused by the store in question, who have admitted liability. Any advice would be greatly appreciated.

forgotmyname

Yes you can cancel it the claim is already in progress. If the claim was during this years policy then the full premium maybe payable.

If it was last years then your OK.

BUT... there will still be admin fee's and cancellation charges so you may not get back as much as you think, or need to pay almost as much as a full years cover.

Dont forget you need to declare this in future (upto 5 years)

Ask what the charges are before cancelling.

romanymoon

Thanks for your response. Very helpful.