My husband has been with Budget for a year. He has just sold his car and decided to have a lease cr instead so needs to cancel his contract. He just rang Budget and they told him he needs to pay £220 to cancel a £600 (for the year) contract a she is 14 days into his next year. I thought once you had been with an insurer a year you went onto a rolling contract and you could cancel at any time. Yes, we expect to maybe something but a third of the yearly fee seems extortionate! Does this sound right? Is there anything we can do about this?

Thanks in advance

Lisa

LisaH:

My husband has been with Budget for a year. He has just sold his car and decided to have a lease cr instead so needs to cancel his contract. He just rang Budget and they told him he needs to pay £220 to cancel a £600 (for the year) contract a she is 14 days into his next year. I thought once you had been with an insurer a year you went onto a rolling contract and you could cancel at any time. Yes, we expect to maybe something but a third of the yearly fee seems extortionate! Does this sound right? Is there anything we can do about this?

Thanks in advance

Lisa

Duplicate thread. Replied to http://www.moneysupermarket.com/COMMUNITY/forums/p/21903/advice-on-my-rights-cancelling-insurance-contract-95405.aspx#95405