What to Do When You Cancel Auto Insurance

If you might like to change auto insurance companies, you may have to cancel auto insurance that you could be using now. But to prevent problems and unnecessary costs, it could help to plan ahead. You might want to avoid problems such as finding yourself billed twice for the same type of policy.

In some cases, you may not have to take any action to cancel auto insurance other than to allow the policy to run out. But you might not want to just assume that you could go that route. There might be companies that may auto-renew existing policies and they may not tell you that they could be doing that. Then, you may not be able change auto insurance companies as you might have planned.

Neglecting to pay your premium may be a poor strategy for trying to cancel auto insurance. Your insurance company may begin to assess penalties and could take you to court if you continue to refuse to pay the premium. You could end up not only stuck with the old policy but also with marks on your credit history for not paying your bills.

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When you might be all set to cancel auto insurance, write your insurance company a letter to let them know what you may be about to do. Retain a copy of the letter for your files. You might be better off waiting until a current policy could run out before you change auto insurance companies, because trying to cancel auto insurance in the middle of a policy could result in a fee.

When you go through with your plan to cancel auto insurance, be prepared to change auto insurance companies without delay. Your former company may stipulate that you might have to verify having another insurance provider before they allow the cancellation. In some cases, the new insurance provider may be able to handle the necessary steps to  cancel auto insurance with your old company so you might not have to do it.

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