Cancelled Green Flag - Pay Monthly

Savy.Student

Hello,
I rung up and cancelled Green Flag a few days ago as I'm taking my car off the road soon, but I'm confused about if I would have to pay the rest of my premium in a lump sum ( It runs out in March).
I was trawling through the contract I got and I think it states that because it's classed as a loan I'd have to pay the rest of what I 'owe', but on in a booklet I received it states:
'If you've been paying by instalments , it still counts as an annual contract. That means if you cancel your cover but you've already claimed, you'll have to pay the full premium for the rest of the year.'

But I haven't claimed this year, so it's not clear what I have to pay.
I got a confirmation on cancellation letter through the post today, and it states:

'As the premium was being paid by instalments, the refund shown on the schedule will be deducted from the balance of the year's premium outstanding under your existing Fixed Sum Credit Agreement.'

The full premium was about £149 ish (it was an auto renewal, I was at uni when it renewed so the letter came to my home address otherwise I definitely wouldn't have renewed at that price!!), anyway, it says the refund amount is £70 ish, which I'm guessing is the total amount in instalments I've paid so far. So does that mean I'm gonna have to pay about £79 more to them in a lump sum?
It says someone from their financial department will be in touch with me shortly, so I guess I'll find out.
But has anyone been in the same situation or can clarify what they mean?

Thanks in advance

DoaM

It is very very rare that a monthly payment for an insurance policy gives a month by month insurance cover. You might be paying monthly, but you're not paying Green Flag - you're paying a finance company who have already paid the annual premium to Green Flag. So the loan is still enforceable, even if you cancel the service (motor breakdown cover).

tl;dr ... you owe the balance per the T&Cs.