Will I get a refund if I cancel outside the car insurance cooling-off period?
If you decide to cancel your policy outside of the cooling off period, then be prepared to pay cancellation charges as well as administration fees. It could be that those charges add up and cancel out any refund.
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 would 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. Instead, you may have to pay extra to cover the time you’ve been insured, as well as a car insurance cancellation fee and any administration charges.
Add-ons are often non-refundable. Be aware, too, that if you selected to include optional add-ons to your policy that could be supplied by another company - breakdown cover for example - you could still be paying for those add-ons after you’ve cancelled your car insurance policy.
However, if your provider cancels your policy instead, which could be for a number of reasons, then it's more unlikely that you will receive a refund.