#SAFE AUTO CANCEL POLICY DRIVERS#

You don’t want any gap in coverage-even if it’s a day.

Make sure to have your new car insurance in place before canceling. It’s wise to have documentation on hand if you need it. Request a policy cancellation notice confirming that you canceled your policy. You’ll want to understand your insurer’s specific procedure to make sure you correctly terminate the policy. You may be asked to put your cancellation request in writing, for their records. Once the new policy is all set, contact your old insurance company to verify its cancellation process. That could put a serious dent in your wallet and savings if you cause an accident while driving uninsured. The National Association of Insurance Commissioners estimates the average bodily injury claim is over $20,000 and the average property damage liability claim is about $4,200.

#SAFE AUTO CANCEL POLICY DRIVERS#

Most states require drivers to have liability car insurance to drive legally or demand you have the ability to pay for others’ medical bills and property damage if you cause a car accident. You can also face fines and jail time for driving without insurance. You would be responsible for paying for injuries and damage you cause if you get in an accident. If you cancel your car insurance without getting a new policy, driving without insurance puts you at a higher financial and legal risk. It’s vital that you have coverage in place before the cancellation date of your current coverage. You should have the cancellation date of the old policy be the same day or before your new policy takes effect. Once you’ve identified when your new coverage begins, you can zero in on a cancellation date to give to your insurance company.

Once you determine your car insurance coverages, compare car insurance quotes from multiple companies and buy your new policy, noting the effective date the new coverage kicks in. Comprehensive pays for theft and for non-crash damage, like hail, flooding and collisions with animals. Collision pays for damage to your car regardless of who caused the accident, and for damage if you hit an object, like a fence. If you financed your purchase, you’re usually required to buy these optional coverages. Or if you recently bought a newer car, you may want to add collision and comprehensive insurance to pay for damage to your vehicle. Liability car insurance also pays for damage and injuries you accidentally cause to others. You may want to stay with the same coverage levels as your current insurer or make changes.įor instance, if you bought a home and you have more to lose, you may decide to increase the limits on your liability insurance, which helps protect what can be taken from you in a lawsuit. Asses Your Car Insurance Coverageĭecide exactly what types of car insurance and limits you want in a policy. Here’s what to do when you want to cancel a car insurance policy and change insurers. There is typically no cancellation fee, but if your insurer has one the amount will be subtracted from the refund. Your insurance company will generally send you a pro-rated refund for the remainder of the policy term. Make sure you receive a cancellation notice to confirm your car insurance is canceled.

When contacting your insurance company or agent, know the date you want the cancellation to be effective. Your insurer may request the cancellation in writing.

You can cancel your car insurance by calling your insurance company or agent.

Safe auto cancel policy