What is the cancellation fee?

If you decide to cancel your insurance policy before the policy end date, please be aware that a cancellation fee will be charged. These fees typically represent, at most, two months’ payment. Most insurance companies charge a fee ranging from 2% to 15% of your premium, with higher percentages applied earlier in the policy term. For example, canceling an $800 annual insurance policy might cost you between $16 and $120.

However, if you cancel on the end date of your policy, you won’t pay a cancellation fee.