So you’ve decided your Axa car insurance policy doesn’t cut it and you’re after a new deal. Or maybe you’re getting rid of your car and don’t need insurance for it anymore. Yet you often can’t just cancel your car insurance early without jumping through a few hoops and paying a fee. We walk you through what you have to do to get out and look at all the different charges and costs involved. Some of you might get all your money back from Axa while others will unfortunately struggle to get a single penny.
Cancellation within 14 days of cover We’ve all jumped into relationships too quickly, thankfully leaving Axa won’t cause you heartbreak if you cancel your policy in the cooling off period. Here are the simple steps.
Send a letter saying you want to cancel your policy, or head to your local Axa branch, within 14 days of receiving your policy documents, or of the renewal date.
When you post this letter or go into your local branch you’ll need to return your Certificate of Motor Insurance too.
Axa will then refund your premium, provided you haven’t made any claims.
Cancellation after 14 days So you’ve had Axa for a few weeks or months and you’re thinking of leaving. Maybe you’ve seen a much cheaper deal somewhere else? Thankfully you can still leave, however it might cost you. Here are the key steps.
To cancel during your term, send Axa your certificate of insurance by mail, along with a written letter explicitly requesting to leave. Or take the document and letter into your local branch and cancel in person.
If you paid your premium upfront then you’ll get some kind of refund. Axa will look at how many months you’ve had a policy that year then give you a percentage back. For instance, if you’ve been with Axa for 6 months you’ll get 50% of your premium returned.
Axa will deduct an administration fee from your refund, or ask you to send it money if you pay for your policy in monthly instalments.
Axa will also hit Drivesave customers with an extra charge, for the cost of the Drivesave unit and its installation.
Cancellation for long term customers Long term Axa customers who’ve had continuous cover for more than 12 months can cancel their policy for relatively cheap.
Send a letter requesting to cancel your deal along with your certificate of insurance, or take these documents to your local branch in person.
Axa will then work out the percentage of premium for the period you’ve been insured and refund any balance.
Unfortunately it’ll take away a £40 administration fee from this amount though.
Things to consider before cancelling your policy with Axa
Change existing deal. Instead of cancelling your Axa deal outright, you could ask if you can adjust your current policy. This might suit you if you’re just looking to cut costs or get a different level of cover. Perhaps you’ve modified your car for instance? Axa will charge an administration fee but it’s less than when you cancel the policy completely.
Fees. If you’ve had Axa car insurance for more than 14 days you’ll have to pay some kind of administration fee. While not expensive, if you’ve only got a month or two left on your Axa deal, it might be worth just seeing your policy out until its end. Unless, of course, you’ve found an incredible car insurance policy somewhere else.
Drivesafe customers. Axa will also hit you with an extra charge if you have a Drivesafe policy, so weigh up whether this fee is worth biting the bullet for.
Made a claim. Should you have made a claim (or had one made against you) then Axa won’t give you any refund. If you’re early on in your deal you might want to get your money’s worth, so sticking with Axa might be the better option.
No claims. Axa probably won’t let you take your no claims discount with you if you cancel your policy. If you’ve been building it up over a few years it might be worth just seeing your Axa policy out and then moving.
If you can’t wait and you want to leave Axa quickly, then you can cancel your Axa policy early and take out a new insurance policy that same day. Or, rather than cancelling, you can tell Axa that you don’t want to automatically renew your contract then wait for your Axa deal to finish.
Then you can find a new insurance provider and ask it to start your cover the day your Axa policy ends. This way you won’t have to pay any cancellation fees to Axa either.
Frequently asked questions
If you’re looking to switch then you will typically find car insurance quotes are cheapest about three weeks before your existing deal is set to run out. Arranging for your new provider to delay your sign-up for when your Axa deal runs out could save you having to pay cancellation charges too. Some might be looking to just cancel, without switching provider. Maybe you’re moving abroad or you’re selling your car because you’re moving home.
You should look to cancel as soon as possible. You don’t want to be paying insurance for a car you don’t use, and the faster you act the more refund you’ll get back – so long as you haven’t had any claims on your policy.
The offers compared on this page are chosen from a range of products we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations), aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When making a big financial decision, it's wise to consider getting independent financial advice, and always consider your own financial circumstances when comparing products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (Mar ’24). 51% of car insurance customers could save £539.54
Esther Wolffowitz was a publisher at finder.com specialising in insurance. Esther holds an MSc in Media and Communication Governance from the London School of Economics and Political Science (LSE). See full bio
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