It is possible you want to cancel your UK car insurance policy and the question of how to cancel car insurance comes up..
The need may arise either because you want to purchase car insurance from a better insurance provider or because you no longer need one since you’ve sold your car.
It is important to know the right way and necessary steps to take in order to cancel your UK car insurance. This is because wrong cancellation of your insurance policy may incur some penalties.
This article discusses how to cancel your car insurance in the UK, why you should inform your insurance provider before cancelling your contract, and when is the best time to cancel your insurance policy.
You need to arm yourself with the knowledge of the best time to cancel car insurance. You can choose to go the rogue way and just opt for cancellation of your policy at any time or you can go the failsafe way.
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When is the Best Time to Cancel Your Car Insurance?
It is often recommended that the best time to cancel your car insurance in the United Kingdom is when you have secured another insurance cover.
If you feel your current insurance provider does not offer as much value as another insurer you have found and you would like to buy from the latter, you should only cancel your current insurance policy after you have acquired a new one.
For instance, you may be offered car insurance cover from Aviva and then you see that Direct Line offer better services. It is only wise to cancel your contract with Aviva after you have secured a policy from Direct Line.
Do not cancel your UK car insurance policy because you want to. Cancel after you have completely secured a new one.
The dangers of driving your car without an insurance cover are not palatable and that is an important reason why you should not cancel your insurance policy until you have secured a new one.
The scenario above may not always be the case. It is possible that you need to cancel your car insurance because you just sold your car and would not need an insurance policy for awhile.
In this scenario, cancelling your car insurance does not require having to secure one first. You can just go on with cancelling.
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How to Cancel Car Insurance in the United Kingdom
Can you cancel your insurance policy at any time? The answer is yes, especially if you are able to inform your insurer on time.
We have highlighted some basic steps you can take to cancel your UK car insurance policy:
- Place a call to your agent
- Go-to your insurance provider
- Seek support & assistance from your new insurer
Place a Call to Your Insurance Agent
Your insurance agent is the first person you should get in touch with when matters concerning your insurance policy arises. He or she acts as an intermediary between you and the insurance market.
You are expected to leverage on their expertise to inform your decisions about buying insurance, managing your policies, and general insurance needs.
Why You Should Place a Call to Your Insurance Agent Before You Cancel Your UK Car Insurance Policy
When you contact your insurance agent over policy cancellation, they are expected to provide expert opinion and professional advice on the benefits and possible dangers of cancelling your car insurance.
They understand how the insurance industry operates and are able to offer guidance for successfully navigating through the world of insurance.
By informing your agent of your desire to cancel and switch between insurance providers, he or she is expected to carry you through the process.
If they feel it is best for you to stick to your current insurer, they would rather show you better ways to optimize and maximize your policy.
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Contact Your Current Insurance Provider
Alternatively, you can decide to go through the process of canceling your policy yourself or when your agent gives you ahead by contacting your insurance provider.
You can visit the insurance office and inquire about their company’s policies on car insurance policy cancelation. They will be willing to give you a refund of your premium if you cancel your car insurance policy or switch to another provider, especially if you paid for 6 months ahead or yearly. You won’t get a refund if you pay monthly, except you are ready to pay a huge penalty.
Canceling your insurance would be based on getting your signatory on certain documents. When you visit your insurance provider, they give you the necessary documents and also engineer the process.
Be rest assured that when you visit your insurance provider, they would try to convince you to stick with them. This is normal as no business would sit and fold their hands while they lose their customers.
It is intrinsic to try and keep your customers. In lieu of this, it is recommended that you speak to an agent first as they would show some resilience while contacting your current insurance provider.
Seek Support & Assistance From Your New Insurer
Seeking support and assistance from your new insurer is another option to take when you need to cancel your car insurance.
Remember the answer we gave to the question of when is the best time to cancel your car insurance?
We said that it is best to cancel your car insurance when you have secured another one.
If you have secured a new car insurance, you can contact your new insurer and seek their assistance for the cancelation of your former insurance contract.
They will oftentimes demand that you provide your car insurance policy number and give your signatory on a cancelation form.
When you have settled with your new insurer, they initiate the process of cancelling with your former insurer. You do not need to contact your former insurer anymore.
The temptation to ignore canceling your insurance policy with your former insurer just because you already have a new one. It is not the right move.
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It is important to notify your insurance provider that you want to cancel your car insurance. This is a move that must be predicated on the fact that you have secured a new insurance policy.
Faulting in the area of informing your insurance company about a policy cancellation will incur certain penalties.