Is a car an asset: For many people, a car is one of the biggest assets they own. It provides comfort or luxury and the convenience of getting you from point A to B. It holds a resale value and may serve as a source of primary or secondary income or in other cases, It may serve the purpose of a collateral depedning on the circumstances.                                 

Policy Cancellation: After the 30 day cooling off period, you or the company may decide to permanently cancel the contract. This must be stated by giving 30 days advance notification in writing. The Company may decide to cancel the Policy if: - You misrepresent important facts, You provide false, inaccurate or incomplete information , Your claim is fraudulent.  If this happens, you do not get any cash back.