You’re moving house
If you’re moving house and no longer need a policy, that would be a good reason to cancel. In these circumstances, you’ll get back a pro-rata amount after taking into account how long you’ve been covered. There may also be an admin fee to pay.
However, if you’re buying a new property and still need cover, you won’t need to cancel – you can move your policy with you to your new home. Bear in mind that an admin fee may be charged and you may face an increase (or decrease!) in your premium, depending on the cover you need in your new property, and its address.
Also, it’s a good idea to liaise with your insurance provider to make sure you’re covered throughout the move and double check whether your insurance provider requires you to move with a professional removals company for you to be covered.