That was the first question i asked when taking out my policy.. what was the cancellation fee.
The fee is £45, and pro-rata for any cover that doesn't complete a month.
So i paid the premium at the start of the month (2days after cancelling) and now have a cheque being posted to me for about £166... (£212 pcm was my premium)
Its a bit of a shitter really, but hey.. life goes on, they couldn't insure me on my new car so thats that!
The best company i've come across with regards to policy changes, was liverpool victoria... no charge (except premium difference) to change cars, and no charge to cancel.
When i was with them, i changed my car 3 times, then cancelled before the year was up, just cost me pro-rata for the days of the month i was covered.
Shame Liverpool Victoria don't do modified cars anymore!