Fees and Charges

What fees do Budget Insurance Charge?

We like to be completely upfront about the fees and charges for our services so you won’t get any nasty surprises later, that’s why we have outlined all fees and charges in the table below.

Our fees are separate to any premium charges applied by your insurer, for example, if your premium increases because you have changed your car/van/or you have moved home. Additionally, Budget Insurance does not charge any admin fees for mid-term adjustments. Check out the table below to find out more.

Car and van insurance fees:

Fee Title Amount When will I have to pay this? Why do you charge for this?
Intermediary Services Fee £50.00 This fee is included in the total cost of your policy and applied to all customers taking out a policy with Budget Insurance. This is a fee that we charge you for the insurance intermediary services we provide in arranging, servicing and renewing your policy.
Failed Payment Fee £15.00 If a payment is returned or refused by your bank or building society. We are required to charge for this due to the administration costs involved with the process of recovering unpaid fees.
Cancellation Fee
(within 14 days)
£38.00 If you cancel your policy within 14 days, you may also be charged for the time that your vehicle has been on cover. We charge a cancellation fee to cover the administration time taken to cancel your policy and notify the relevant third parties of your request to cancel.
Cancellation Fee
(after 14 days)
£50.00 If you cancel your policy after 14 days, you may also be charged for the time that your vehicle has been on cover.

Home Insurance Fees:

Fee Title Amount When will I have to pay this? Why do you charge for this?
Intermediary Services Fee £22.50 (Buildings Cover)

£22.50 (Contents Cover)

£45.00 (Buildings & Contents)
This fee is included in the total cost of your policy. Everyone that takes out insurance with Budget Insurance will pay this fee. This is a fee that we charge you for the insurance intermediary services we provide in arranging, servicing and renewing your policy.
Failed Payment Fee £10.00 If a payment is returned or refused by your bank or building society. We are required to charge for this for the administration costs involved with the process of recovering unpaid fees.
Cancellation Fee
(within 14 days)
£35.00 If you cancel your policy within 14 days, you may also be charged for the time that your home has been on cover. We charge a cancellation fee to cover the administration time taken to cancel your policy and notify the relevant third parties of your request to cancel.
Cancellation Fee
(after 14 days)
£35.00 If you cancel your policy after 14 days, you may also be charged for the time that your home has been on cover.