Will I get a refund if I cancel after the 14-day cooling-off period?
It depends. If you cancel your policy, be prepared to pay cancellation charges as well as administration fees. It could be that those charges add up and cancel out any refund you were expecting. Otherwise, there are these things to consider as well:
• If you paid for your policy in full upfront, your refund will be calculated on a pro-rata basis, minus any charges. For example, if you cancelled your policy after three months, you'd be entitled to a refund of nine months, minus a cancellation charge and any administration fees
• If you pay for your insurance monthly, then you might not get a refund. In fact, you may have to pay extra to cover the time you've been insured, as well as a cancellation fee and any administration charges
• Add-ons are often non-refundable. Also, be aware that if you selected to include optional add-ons that are supplied by another company, such as breakdown cover, you could still be paying for those add-ons after you've cancelled your car insurance policy and you might need to contact the add-on provider to cancel.
• If your insurance provider decides to cancel your policy for a specific reason, it's most unlikely that you'll receive a refund