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Can you cancel insurance

  • 21-11-2002 10:09am
    #1
    yop
    Moderators, Home & Garden Moderators, Regional Midwest Moderators, Regional West Moderators Posts: 16,724 Mod ✭✭✭✭


    Lads

    Can you cancel insurance?
    I have a policy that I renewed in Sept for 1210 Euro.
    I got a quote from the AA for 962 and this is a nice difference.

    Do I get a major fine if I cancel my policy or am I tied for the year

    Thanks


Comments

  • #2
    Hellrazer
    Moderators, Arts Moderators, Recreation & Hobbies Moderators Posts: 10,885 Mod ✭✭✭✭Hellrazer


    Last time I cancelled a motor policy(Got a company car) the cancellation fee was 30% of the total cost which in your case if this is still the case will cost you €363 so you are not really going to make much of a saving.
    Check it out though because the situation could be changed by now!!!!


  • #3
    JohnBoy
    Registered Users, Registered Users 2 Posts: 2,342 ✭✭✭JohnBoy


    It varies from company to company,

    AFAIK with quinn direct if you pay full cash up front, and then cancel, you get whatever percentange of the policy is remaining back, minus a 50% handling fee.

    But if you pay by direct debit, they just stop taking money from your account


  • #4
    RicardoSmith
    Closed Accounts Posts: 8,264 ✭✭✭RicardoSmith


    If you tell them why you are cancelling they might refund you the difference. I've cancelled insurance on cars I've sold etc., and never been charged a cancellation fee. If you kick up a fuss you might not either. Insurance companies rarely have any hard and fast rules about these things. They generally make up these things as they go along.


  • #5
    nanook
    Registered Users, Registered Users 2 Posts: 1,888 ✭✭✭nanook


    there is only one downfall, if you are building up a no claims bonus you will loose this portion of it, ie if you had 3 years no claims in sept and you cancel that and start with your new policey this time next year, when your new policey runs out you will only have four years.
    But i dont think if you tell your insurance company that you have got it cheaper now, i dont think they will refund the difference, that is what to do when your policey is up for renewal.

    good luck with it anyway


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