What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks
Do I have to pay a cancellation fee if my insurance was not renewed?
I was insured until just over a week ago when I could not find the renewal notice so switched to another provider as I was about to go on holiday and short of time. I assumed that as the insurer couldn't take payment from my card (new one had been issued in the last few months) the policy would not renew. They have just asked me for a £50 cancellation fee. Can I ignore that?
Asked on 1 November 2024 by elderberry
Answered by
Rhydian Jones
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.
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.
Tags:
insurance
We give you the low down on how to save on insurance, little-known tricks and tips, what insurance groups mean and how to use insurance aggregators to beat insurers.
Insurance group finder and how to save on insuranceSimilar questions
We are taking delivery of a brand new VW campervan and planning on taking it to Europe in September.
The VW warranty provides breakdown cover in Europe for 3 years but I don't believe it extends to repatriation...
My brand new Mercedes-Benz caught fire. It broke down and I didn't get any warning signs on the dashboard so I called Mercedes roadside assistance and they sent the RAC to check my car. After two hours...
My granddaughter has just become 17 and is learning to drive. As my wife is no longer allowed to drive we have made her car available for her to learn on but have retained ownership. My daughter has taken...
.jpg)
