I'm insured with Elephant and my policy is up for renewal in 2 weeks. I'm planning on selling my car, but it could take more than the 2 weeks I've got left on my current policy to find a buyer. Only just realised that there is a 2 week cooling off period to cancel new policies, meaning you only get charged a Â£22 admin fee if you do cancel within the 2 weeks of the policy start date. So by my calculations I've got 4 weeks (2 weeks left on my current policy + 2 weeks cooling off period on new policy) to sell my car and only pay Â£22 to be insured for that time. Question.... Am I missing something?? Almost sounds too good to be true. I know that if there is a claim during the cooling off period then the entire year's premium is payable. But if there is no claim then its only going to cost me Â£22??