28-01-13, 07:43 PM
No, don't cancel it as you'll end up out of pocket (most insurers don't give much of a refund).
Instead, tell the insurer that you no longer own the vehicle and want to transfer the policy to its replacement in due course - then you should have a policy in force without there being a vehicle on it (IYSWIM).
But forget the barrack room lawyers on here and ask the insurer yourself: they're the ones whose terms and conditions you must comply with regardless of what any of us say.
Instead, tell the insurer that you no longer own the vehicle and want to transfer the policy to its replacement in due course - then you should have a policy in force without there being a vehicle on it (IYSWIM).
But forget the barrack room lawyers on here and ask the insurer yourself: they're the ones whose terms and conditions you must comply with regardless of what any of us say.