Does it matter why I want to cancel my policy?
Not really – it’s entirely up to you whether you decide to cancel your policy, just make sure you’ve properly thought about it.
If you’ve found a better deal elsewhere then consider any cancellation or admin charges you might face. It could be that those fees rack up and swallow up any refund you’re likely to get; which in turn might mean that the great deal elsewhere isn’t worth it.
If lucky enough to have bought a new car and think you have to cancel your existing policy, hold your horses (or your new car keys) because insurance providers will simply update your existing policy. But bear in mind that your insurance premium could go up or down depending on what that new car is and there is typically an admin charge applied for making the change.