Carrot Car Insurance Cancellation Fee

What is Carrot Car Insurance?

Carrot Car Insurance is a provider of motor insurance, allowing drivers to purchase and manage their policy online. It offers competitively priced cover and the ability to tailor policies to the needs of each consumer. Carrot Car Insurance provides cover for a range of vehicles, including cars, vans, and motorbikes. It also provides cover for drivers of any age and experience level, offering discounts for those with no previous claims or motoring convictions.

What is a Cancellation Fee?

A Cancellation Fee is a charge that may be applied to a policyholder if they choose to cancel their policy before the end of the agreed term. This fee can vary depending on the insurer and the policy, with some insurers offering a fixed fee or percentage of the cost of the policy. It is important to note that the Cancellation Fee is separate from any refund that may be due from the insurer.

How Much Does Carrot Car Insurance Charge for Cancellations?

Carrot Car Insurance does not charge a Cancellation Fee for policies cancelled within the first 14 days of the policy start date. If the policy is cancelled after the 14 day window, the policyholder will be charged a Cancellation Fee of £45. This fee will be deducted from any refund that may be due to the policyholder. It is important to note that the Cancellation Fee is applicable even if the policy is cancelled due to the policyholder changing their vehicle.

Are There Any Exceptions to the Cancellation Fee?

Yes, there are some exceptions to this fee. If the policyholder cancels their policy due to a change in circumstances which renders them ineligible for the policy, for example if they move out of the UK, then the Cancellation Fee will not be applied. In such cases, the policyholder will receive a full refund of the premiums paid. Additionally, the Cancellation Fee may be waived in certain circumstances if the policyholder can provide evidence of extenuating circumstances.

What Happens if I Don't Pay the Cancellation Fee?

If the Cancellation Fee is not paid within the specified time frame, the policyholder may be liable to pay any additional administrative costs incurred by Carrot Car Insurance. Additionally, the policyholder may find it difficult to obtain cover from other insurers if the Cancellation Fee remains outstanding.

What Should I Do if I Need to Cancel My Policy?

If you need to cancel your Carrot Car Insurance policy, you should contact the company as soon as possible. You will then be advised on the cancellation process, including any applicable Cancellation Fee. It is important to ensure that all outstanding fees are paid before the policy is cancelled, to avoid any potential complications. Additionally, you should ensure that you have obtained alternative cover before cancelling your Carrot Car Insurance policy.