Car Insurance Cancellation Fee.

shezza2

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.

sheramber

You can still be asked to pay administration fees to cover setting up the policy and then cancelling it.

DullGreyGuy

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.