Charge for canceling car insurance?

[moondance]

I've just sold my car and don't plan on getting a new one for now. My insurance policy covers me until November of this year and I pay by direct debit monthly. I called the insurance company to cancel my cover and they said there would be a 50euro cancellation fee - is this standard practice?

 

[mathepac]

Some brokers and insurance companies charge 'administration fees' for changes in cover (new car, temporary substitution, extra driver, take off driver, etc.) but I've never heard of a cancellation fee before.

 

[peteb]

is it your first year with a new company? Short term rate as opposed to pro-rata cancellation are used then. Not unusual though. Some companies still charge a cancellation fee.

 

[wheelp]

I think if you suspend your insurance instead of cancelling it you'll get your money back and keep the years no claims bonus you would of racked up.

 

[needhelp]

Unfortunately it's true. The same happened to me about a year ago. Good luck.

 

[ollaetta]

My father died recently just a week after renewing his car insurance. They still charged a cancellation fee. No escaping it, I'm afraid.