Renewals and Cancellation FAQs

The price of your insurance can go up and down and this isn’t always as a result of something you’ve done. For example, economic factors like inflation which could see an increase in the cost of repairs or replacing items, overall claim rates, or changes in law can impact the price insurers charge for their policies.

The RAC use a panel of insurers to make sure we can offer you our best available price each year.

Your price may have gone down for several reasons. For example, if you’ve made changes to your vehicle or address, or your insurer has changed the way they price your insurance risk. If you haven’t made a claim you’ll also have another year of No Claims Discount (NCD) on your policy, which means your insurer may reduce your price. Your insurer may also have adjusted your price, to make sure you’re not paying more than what a new business customer with the same risk details as you would.

In January 2022 the Financial Conduct Authority (FCA) introduced new regulation for the way insurers price their renewals for existing customers. This means that when an insurance company sets a renewal price for one of their existing customers, it cannot exceed what a new customer would pay if they had the same risk details.

Your policy will enter the renewal cycle 30 days from your renewal date and you’ll get an invite sent to you 25 days before your renewal date (by your preferred delivery method). You can view your renewal details and accept next year’s price by logging into your online account. Once logged in, find the policy renewal you want to view and click ‘Retrieve renewal’.

If you're set up for automatic renewal and you're happy with the cover outlined, we'll automatically renew your policy. You can view your renewal documents in your online account.

If your policy isn't set up to auto renew, it will expire on the date shown on your renewal invite, unless you tell us otherwise. To view and pay for your renewal online, please log in to your online account.

You can cancel your insurance policy at any time by contacting our Customer Services Team via live chat. Alternatively, you can give us a call.

With all of our policies you’re given a 14 day ‘cooling-off period’ to change your mind. This period starts either when you receive your documents or when the cover starts - whichever is later.

Your cancellation fee will depend on whether you are within your 14 day cooling off period or not. You can find details of how to cancel your policy on our contact us pages.