Whether you have decided to sell your van or whether you wish to switch your van insurance to another provider. Whatever the reason that you want or need to cancel your van insurance, there are a few things that you should be aware of first.
When can I cancel my van insurance?
You can cancel at any time during the life of your van insurance policy before the expiry date. Remember that cancelling a Direct Debit instruction doesn’t mean that the van insurance policy has been cancelled as well. You will need to contact your bank directly to cancel your direct debit.
You can cancel your insurance policy within the 14 days cooling off period, without any questions being asked. You may incur a cancellation fee, please check this with your insurance provider.
To cancel your van insurance policy after the 14 days cooling off period, you may need to provide proof of alternative insurance before they will cancel your insurance. This is because it’s an offence to drive a van without insurance. Additionally, a cancellation fee may also be charged here, please check this with your insurance provider.
If you cancel your Budget Van Insurance policy within the 14 day cooling off period you will be charged a fee of £30.00, should you cancel after the 14 day cooling off period, you will be required to pay a cancellation fee of £60.00.
How do I cancel my van insurance?
You can cancel a van insurance policy by telling your insurer at any time before the expiry date and it will be cancelled immediately. Or, you can ask for it to be cancelled on a specific date in the future.
To cancel your Budget Van Insurance policy, you are required to call our dedicated team of Customer Service Representatives on 0344 412 2118. We are open Monday to Friday 8am-8pm; Saturday 8am-6pm; Sunday 10am-4pm.
How will I know that my van insurance has been cancelled?
Your van insurer should send you confirmation of your cancellation request via post, or if they are a paperless company, via email. You should receive this confirmation within 14 days of cancelling your policy.
When you cancel your Budget Van Insurance policy, we’ll always send you a letter to confirm that your van insurance policy has been cancelled.
Will I be entitled to a refund following the cancellation of my van insurance?
Dependent upon whether you paid your premium in full or opted to pay via monthly installments, under the Financial Services (Distance Marketing) Regulations 2004, you are entitled to a proportional refund of your premium if you cancel within 14 days of receiving your policy documents.
If you cancel your Budget Van Insurance policy after 14 days, we’ll charge you for the time you’ve had insurance cover. You will also have to pay us a cancellation fee of £50.00. The cancellation fee will be calculated according to the terms and conditions of our contract with you, set out in the ‘Important information about our insurance intermediary services’ section of your policy documentation. When you cancel your van insurance policy, additional products such as Breakdown Assistance and Motor Legal Protection will also be cancelled at the same time. We will only refund premiums for additional products if you cancel your van insurance policy within 14 days of receiving your policy documents
Please be advised that if you cancel your van insurance policy following a claim, or any incident that results in a claim, you will still have to pay the full premium.
Refunds are paid back into the account that the premiums were paid from unless the account holder has died. In that case, we will need confirmation in writing of the name of the executor of the deceased person’s estate so that a cheque can be sent to them.
We will issue proof of No Claims Discount when all of the premiums or fees owed have been paid.
To cancel your Budget Van Insurance policy, you are required to call our dedicated team of Customer Service Representatives on 0344 412 2118. We are open Monday to Friday 8am-8pm; Saturday 9am-6pm; Sunday 10am-4pm.