Auto insurance is a competitive market, so buyers definitely have the upper hand. If you’re not 100 percent satisfied with your provider’s customer service or rates, you are always entitled to cancel auto insurance coverage and sign with a new company. You do not have to wait until renewal time to switch either: you may cancel at any time and receive the unused portion of your policy back. Some companies may charge you a nominal early cancellation fee, so be sure to read the fine print so you’re not disappointed.
Common Reasons For Cancelling Auto Insurance
There are many reasons why you may want to outright cancel (or suspend) your policy. By law, you cannot drive uninsured, but if you won’t be driving for several months on end or if you had your driver’s license suspended or revoked, you may cancel your policy to avoid paying for a service you are not using. You can also opt to switch providers if you got a free auto insurance quote online that offered more favorable rates. You may particularly in the market for a new policy if your expenses have recently increased following a traffic ticket or accident.
Cancelling Or Switching Car Insurance
Cancelling or switching car insurance is very easy! Nowadays, most people switch insurance by shopping for free insurance quotes online and selecting a provider to contact them. Typically, the new provider will handle the cancellation of your old policy. Yet, it is still a good idea to send a written letter requesting cancellation and asking for a confirmation that your policy has been terminated. Never rely on word-of-mouth! If you are cancelling your insurance and not getting a new policy, simply call your provider. They will usually have you fill out a form and mail it in to complete the cancellation. Depending on your state’s requirements, you may need to contact the DMV to let them know you’re cancelling too. They may ask you to surrender your plates or registration tags if you are not getting a new policy.
Get An Auto Insurance Quote Today!