Cancel and re-start car insurance policy

Strummer22 Forumite Posts: 488
Seventh Anniversary 100 Posts Name Dropper Combo Breaker

I have just gotten a new car insurance policy which started today. On Friday I needed to make a change, called the insurer, and the change bumped the premium up by £100. I checked MSE compare+ after this, setting the start date to the end of the 14 day cooling off period, and the cheapest policy was £35 less (still £65 more than original quote, meh) with the same insurer

Can I still cancel the first policy and buy the second, or will it look very odd to the insurer and potentially cause problems? Is there any risk that makes the £35 saving not worth it? I would be able to buy the second policy online without having to talk to a person, if that helps. Any advice welcome, cheers.


  • huckster
    huckster Forumite Posts: 4,708
    Part of the Furniture 1,000 Posts Name Dropper
    Speak to Insurance company, as they may just be able to adjust premium. Doing what you plan in just cancelling and buying new policy online may just prove very messy. When you actually go to buy the policy, the premiums may go up, as Insurance companies systems are programmed to detect multiple activities and ensure they don't end up worse off, taking into account additional admin costs.
    The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.
  • Aretnap
    Aretnap Forumite Posts: 4,936
    Part of the Furniture 1,000 Posts Name Dropper
    There will likely be a cancellation fee for cancelling the first policy, irrespective of the fact that you're within the 14 day period. The exact amount will be set out in the policy terms, but will likely consume most or all of a £35 saving.
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