When you sell a car you must notify your insurer that you no longer own the vehicle.

Your insurer may charge you a cancellation fee or amendment fee if you are transferring your policy to another vehicle.

The insurer will usually pay a refund based on remaining days of the policy that have been paid for up front. However the calculation will depend on the insurer.

If you cancel a policy mid-term, you may not accrue any no-claims bonus for that year.

If you are planning to transfer your insurance to another vehicle, it is worth getting quotes from other insurers to allow you to compare the competitiveness of their quote for the new vehicle and potentially negotiate a lower rate.

Most insurers are able to make some discount on the initial quote if you can evidence a cheaper comparable quote.

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