Aviva Motor Insurance Cancellation Fee

What is Aviva Motor Insurance Cancellation Fee?

Aviva motor insurance cancellation fee is the amount of money charged by Aviva to customers who cancel their motor insurance policy before the end of the agreed period. This fee is usually a percentage of the total premium that you have paid for the policy. For example, if you cancel your motor insurance policy after six months, the cancellation fee may be a percentage of the total premium that you have paid for the six months.

Why is Aviva Motor Insurance Cancellation Fee Charged?

Aviva motor insurance cancellation fee is charged to deter customers from cancelling their policies before the end of the agreed period. Motor insurance policies are long-term contracts and when customers cancel their policies before the end of the agreed period, it means that the insurance company will not be able to recover the costs of providing the policy. As such, the insurance company charges a cancellation fee to cover the costs of providing the policy and to discourage customers from cancelling their policies.

When is the Aviva Motor Insurance Cancellation Fee Charged?

The Aviva motor insurance cancellation fee is charged when the customer cancels the policy before the end of the agreed period. It is important to note that the cancellation fee is not charged if the policy is cancelled due to the death of the policyholder. The cancellation fee is also not charged if the policy is cancelled due to the policyholder moving to a different country or if the policyholder is declared bankrupt.

How Much is the Aviva Motor Insurance Cancellation Fee?

The amount of the Aviva motor insurance cancellation fee varies depending on the policy and the period for which the policy was held. Generally, the cancellation fee is a percentage of the total premium that the policyholder has paid for the policy. The percentage may range from 5% to 20% depending on the policy and the period for which the policy was held.

How is the Aviva Motor Insurance Cancellation Fee Paid?

The Aviva motor insurance cancellation fee is usually paid directly to the insurance company. The customer can pay the cancellation fee using any of the payment methods accepted by the insurance company. Alternatively, the customer may opt for a refund of the cancellation fee if the policy was cancelled due to the death of the policyholder or if the policyholder has moved to a different country.

Conclusion

Aviva motor insurance cancellation fee is the amount of money charged by Aviva to customers who cancel their motor insurance policy before the end of the agreed period. The cancellation fee is charged to deter customers from cancelling their policies before the end of the agreed period and is usually a percentage of the total premium that the policyholder has paid for the policy. The amount of the cancellation fee varies depending on the policy and the period for which the policy was held. The cancellation fee is usually paid directly to the insurance company and the customer can opt for a refund of the cancellation fee if the policy was cancelled due to the death of the policyholder or if the policyholder has moved to a different country.