Short Rate CancellationCalculator

Calculate exact insurance cancellation penalties using official short rate tables from Canadian insurers

Calculate Your Short Rate Penalty

Enter your policy details to calculate cancellation fees and refund

Understanding Short Rate Calculations

How It Works

Short rate cancellation applies a penalty when you cancel your insurance before its expiration date, compensating the insurer for administrative costs.

  • • Penalties typically range from 10% to 20%
  • • The earlier you cancel, the higher the penalty
  • • Each insurer has their own rate table

Avoid Penalties

You may qualify for pro-rata cancellation (no penalty) if:

  • ✓You sell your vehicle or home
  • ✓The insurer cancels your policy
  • ✓You switch to another policy with the same insurer