Cancel Insurance or let it run out ?

[barbs0007]

hi, i have sold my car and was about to cancel the insurance, but they want £50 to cancel !! I only have two months to run, can I let it run out {saving £50 as no refund will be given} ? New owners have bought their own insurance, so mine will run dorment. Many Thanks Barbs

[barbs0007]

There is two months left to run, i already paid for it {Annual Payment} - the company will cancel but for a fee, so thinking i will let it run out. Not on auto renewal either. New owners will insure it {family members so trust them} .... Think i shall let it run out - just wanted to know it was not illegal really.

[barbs0007]

I have contacted my previous insurance and cancelled the policy. The request for cancellation form stated a payment requirement of £30 which has yet to come out of my account as they have not asked for my bank details ? ... and they have sent me my 'no claims discount' form (maybe because i had it protected anyways ?) and closed the policy.

Quite a topic of conversation it seems. I felt pulled both ways with this... to cancel or let it run. But the force of doing the right thing, and sleeping at night made my mind up to cancel the policy.

Thanks guys for all your help, I hope not to cancel a policy in the future, but i will be well armed with info if i do