Yes, you may cancel your policy at any time and will receive a partial return of the premium paid, consisting of time left on the policy (unearned premium) minus the 25% minimum retained premium. Please refer to the termination clause in the policy wording for full details.
IMPORTANT NOTE ABOUT CANCELLING A CLAIMS MADE POLICY:
With claims made policies you must have a valid policy in force at the time the claim is made or there is NO coverage. So – If you cancel your policy, and 2 months later you are sued, even if the damages allegedly occurred while your policy was in force, you will have NO coverage.