Saturday, July 28, 2012

Cancelling the policy

    You can cancel your policy at any time and for any reason by giving notice in writing to
your insurer. Are you cancelling your policy because you’ve received a more attractive
proposal from another insurer? Check to see whether it’s really worth it, as your insurer
may charge you a penalty, as set out in the cancellation table appended to your policy;
the longer the remaining policy term, the higher the penalty.
Your insurer has the right to cancel your auto insurance policy within 60 days of its
coming into force regardless of the reason. After this period, your insurer can only
cancel your policy if the risk has increased or if you haven’t paid your premium.