Home and car insurance cancellation calculator

Find out how much it could cost to switch today.

Don’t wait to start saving

You don’t have to wait until it's time to renew – cancelling your insurance mid-term may be easier (and cheaper) than you think. Just answer a few questions and we’ll show you how much it could cost to cancel your current home or auto policy so you can switch to Sonnet.


Find out how much cancelling your current policy could cost.

Cancelling your current policy could cost about:

$ 20.00 *

Switch and start saving

What’s next?

1. Set up your new coverage by getting a quote with Sonnet.

2. Call your current insurer and let them know you plan to cancel your policy.

3. Buy your new coverage with Sonnet then confirm your cancellation.

Want to know more about switching?
How do I cancel my policy with another insurer?

Contact your broker or insurance provider and let them know you plan to cancel. You may be asked to submit a request in writing to confirm your cancellation.

It helps to have on hand the following information:

  • Insured’s name(s)
  • Policy number
  • Insurance company name
  • Cancellation date

Be sure to set up your new coverage before you cancel to make sure you’re always protected.

Need a refresher on how to get a Toronto car insurance quote? Review these easy steps.

How are policy cancellation fees calculated?

The cancellation fee your insurance company will charge you will depend on how far along you’re in to your policy term. The closer you are to your policy renewal date, the less you’ll have to pay.

Most insurance companies will charge you around 2-7% of your premium (usually they’ll take the higher percentage amount if you’re near the start of your term). On an average home policy of $800 a year, the cost to cancel your policy would be around $16 to $56. On the average auto policy of $1,600 a year, it would cost around $32 to $112.

How do I decide on a coverage start date?

The coverage start date is the date you’d like your coverage to start and needs to be within 90 days of the day you’re quoting.

Moving? Choose a coverage start date for your home policy based on your moving or closing date. For auto, both your cancellation date and coverage start date should be the same to make sure there’s no gap in your coverage.

Switching? For your home and auto policy, both your cancellation date and coverage start date should be the same to make sure there’s no gap in your coverage.

Does Sonnet charge any fees or down payment when you first buy a policy with us?

We may request a down payment that is due on the date you purchase your policy (for some customers). Don’t worry, we’ll be up front if this applies to you and you’ll know exactly how much the down payment will be before you commit to buying your policy.

*This is an estimate only. Contact your insurance provider to find out the exact cost of cancelling your current policy.