Can I cancel my car insurance in the middle of the insurance period?

I am having my car insured with Bajaj Allianz and my car met with an small accident in Jan’2011 and I did not reported it. Now (In 15 June’2011) my car back bumper badly damaged, while I was backing my car in my society parking. Bajaj Allianz surveyor denied all the claims saying that all the damages were very old. So I want to move to another insurer and probably PSU insurer, who will pay my claims just not make excuses. I have following queries –
1-Can I cancel my car insurance in the middle of the insurance period?
2-Will I get back my insurance premium?
3-What about the NCB?

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Originally Posted by gokulr

I am having my car insured with Bajaj Allianz and my car met with an small accident in Jan’2011 and I did not reported it. Now (In 15 June’2011) my car back bumper badly damaged, while I was backing my car in my society parking. Bajaj Allianz surveyor denied all the claims saying that all the damages were very old. So I want to move to another insurer and probably PSU insurer, who will pay my claims just not make excuses. I have following queries –
1-Can I cancel my car insurance in the middle of the insurance period?

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Yes, you can, just give an application to your insurance company.

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2-Will I get back my insurance premium?

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Yes, the prorata premium will be refunded to you.

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3-What about the NCB?

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If you have not completed one year, you won't get the NCB.

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Originally Posted by Minal

Yes, the prorata premium will be refunded to you.
If you have not completed one year, you won't get the NCB.

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How the pro-rata premium will be calculated?
So I have to start from scratch for NCB.

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Originally Posted by gokulr

How the pro-rata premium will be calculated?

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Example:
Cover on a policy or item start on 20 June. The monthly premium for the item/policy is Rs 500. The pro rata premium for June is calculated as follows:

Rs 500 divided by 30 (days in the month) and multiplied by 11 (remaining days in June). The pro rata premium would be Rs 183.33.

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So I have to start from scratch for NCB.

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Yes, I am afraid no choice.