Insurers may charge a cancellation fee if a policy is terminated early, even if automatic renewal was not completed due to a payment lapse. Ignoring the £50 cancellation fee could potentially impact your credit score. So, if you feel like this
charge is unfair, it is best to contact the insurer to ask if this can be waived. If unsatisfied with their response, you could escalate this to the Financial Ombudsman Service.