Car Insurance

[originalang]

I pay my car insurance premium by monthly payments.Unfortunately Its looking increasingly likely I'm going to lose the car due to financial problems, am I right in thinking I will have to pay the full years premium in full when I cancel the insurance. Thanks for any help.

[nasty_pasty]

Some insurance companies have a minimum amount you can pay to cancel the policy. If you speak to your insurance company and tell them your predicament, I'm sure they will allow you to cancel without having to pay the full amount, but you may still have to pay a bit.

I don't want to annoy the admins here but you may be better off having a look and posting your question here;

http://forums.moneysa...orumdisplay.html?f=21

Really great forum & very friendly

[woozer]

If you have made a claim then the insurers may well require the full premium - otherwise you should find their cancellation terms written into the policy.

[originalang]

Thanks folks, fingers crossed I might have a reprieve with car but will read cancelltion details as advised just in case so I'm prepared, really appreciate your help.

[originalang]

Oops apologies for bad spelling! Not very light were I am.