help, need to cancel a poilcy, pls look

[Bailey1124]

right, ive got a 1.1 and im with more than paying monthly.I renewed my policy in oct. Ive now bought a vts and they wont cover me so i need to cancel the policy.

How much will this roughly cost and is it possible? thanks :homme:

[devilsadvocate]

It is def possible yeah. Best bet is to wait until a week or so before your next payment date and then cancel. If you cancel now, depending on how much you pay per month they will give you a percentage back.

[Bailey1124]

so i wont have to pay the outstanding balance?

[Bailey1124]

i pay £60 a month

[devilsadvocate]

You can cancel your policy whenever you want yeah. As long as you do it b4 your next payment date that will be fine. Ring em up and double check but i canceled mine in the forth month, straight away and the payments stopped. You obviously wont get your years no claims and you will have to start again fromm scratch

[Bailey1124]

so i will be back to zero years no claims?

Sorry to sound thick

[Mitchell]

your ncb will go back to whatever it was before u renewed the policy in october.

[willsy]

Ull lose whatever no claims that you've started from October, but if you've built up some years before that then you still have those no claims and the new company will ask to see proof of these on a certificate or something which your current insurers should send to you

[devilsadvocate]

When you renewed your policy if you had zero no claims then you will be back to zero if you cancel the policy. The fact that you had a renewal must man you built up a years no claims for the year before right and if so you will still have that year. Any no claims that you have now you will still have when you cancel the policy. So if you renewed your policy in oct 2006 you would have aquired a year no claims by oct 2007 right, which you would not have if you were to cancel your policy.

[Bailey1124]

yeh before i renewed i have 2 years ncb, so will be back to that now.

ok i get it now :)

thanks to you all, rep to all

[devilsadvocate]

No worries, Yer u got it.