Budget Insurance almost doubled my insurance premium after an automatic yearly renewal on 01/10/10, I realised this after looking at my bank statement. I immediately called them on 12/11/10 to complain and to let them know I intended to cancel my insurance if they did not improve my premium. They apologised and informed me they could not improve it and thanked me for the +3 years I have spent with them. I then informed them I was going to arrange my insurance with another company and I would call them back later that day to cancel. After the call I contacted another insurance company and re-arranged my insurance, I paid the total of the premium upfront as this worked out £400 cheaper than Budget for the same insurance. Once all was finalised I then called back Budget to cancel my previous insurance. When I spoke to Budget again they informed me that if I cancelled I would have to pay them a £352 early cancellation fee! I was shocked to discover this and informed them I had spoke to one of their colleagues beforehand and they did not mention any cancellation fees. They then told me they are not obliged to inform me of the fees as they are in my terms and conditions and I should know about them. Please can you give me some help and advice in how to deal with this matter. I do not mind paying a reasonable administration fee but the amount they are charging is way too excessive, unreasonable and in my opinion verging very closely to a criminal offence. (please note I have a clean driving license, 10 years no claims and have not have an accident. I have contacted Watchdog today and I intend to contact the Financial Ombudsman if necessary)