Car Insurance Cancellation Fee.

shezza2
shezza2 Posts: 197
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Hi all, Last Friday I took a policy out for my insurance due next month (Feb) Two day later and three weeks before the policy starts, I realised I did not select No claims protection so I contacted them to alter this, but  they said I could not, so I cancelled the policy. They charged me £25 cancellation fee. Does this seem right as I thought I had cooling off period even after the had policy started.

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  • sheramber
    sheramber Posts: 18,637
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    You can still be asked to pay administration fees to cover setting up the policy and then cancelling it.
  • DullGreyGuy
    DullGreyGuy Posts: 9,170
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    shezza2 said:
    Hi all, Last Friday I took a policy out for my insurance due next month (Feb) Two day later and three weeks before the policy starts, I realised I did not select No claims protection so I contacted them to alter this, but  they said I could not, so I cancelled the policy. They charged me £25 cancellation fee. Does this seem right as I thought I had cooling off period even after the had policy started.
    Cooling off periods just mean you have a right to cancel, it doesn't mean it has to be fee free. If you didn't have a cooling off period you'd have no statutory right to cancel but being realistic no Motor insurance is going to be non-cancellable but some other classes (eg Private Medical) often are. 
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