Karlos!:

Hi

You can cancel policies mid-term but you should phone the companies concerned and not just cancel the Direct Debit payment. Cancelling the DD's is not the same as cancelling the policies.

On the Home Insurance, there may be a cancellation charge, but they will advise you of this when you phone. This will also be confirmed in your policy documemts.

On the life insurance, you should enquire about the cover before you cancel, so you make sure any replacement policy is adequate for your needs. Also they can confirm when your next payment is due, so you cancel from an appropriate date, just in case they don't refund part of a monthly premium.

Huckster

Hello

I am currently trying to sort out my finances, I have been very disorganised in the past but I'm trying to take control!

Basically my Home contents & building insurance renewed itself automatically this year, and it went from £35 to £50 per month. This was back in June, am I able to cancel the policy by simply stopping the payments? I never signed anything.

Also I have been paying life assurance to the same company since I took out my first mortgage some five years ago, again can I just cancel as I have never had any updates or correspondence with this particular company in five years! they just keep taking the money. I am currently paying £35 for this but I think I can get it quite a bit cheaper.