Most people in the United States are insured by their car insurance company. A car is a huge financial responsibility and driving your own vehicle is one of the most important ways to protect yourself. In fact, many people that buy insurance on a monthly basis don’t even know what the state of their car insurance policy is because it is not always updated.
Can the insurance be canceled before it expires? That is to say: is it possible to cancel insurance in the middle of the year? The answer is yes; but for this you have to follow a series of guidelines that we are going to tell you today.
It is not such a rare case: you change your car before the current insurance expires, or you decide to cancel your vehicle for whatever reason. In that case, the normal thing is that you want to cancel your car insurance even before it has expired. How? The important thing is to be very clear about the steps you have to take.
What most people don’t know is that there are actually several ways you can use to cancel your car insurance. While there are many techniques and practices to cancel your car insurance, there are specific ways to do so most often. One of the ways you can cancel your car insurance is by selling your car. However, not all new car owners understand this aspect of their car insurance. Some people think of selling their car as breaking the deal. That sounds like a very unpleasant experience, which is why it’s important that you understand the benefits of selling your car.
Is it possible to cancel car insurance before it expires?
As is often the case with almost everything related to legality, deadlines are essential. As you probably already know, car insurance is renewed automatically unless you notify two months in advance that you want to change companies (note: your insurer also has to notify you of the expiration and renewal dates of the insurance with those two months). Well, what if you want to cancel your insurance before it expires (or automatically renews)?
What is the best third-party insurance for its quality/price?
The first thing you have to be clear about is that insurance is contracted annually; It doesn’t matter if you make the payment all at once, or if you do it in several payments. For this reason, if before the expiration of this year you decide to cancel the policy, keep in mind that the company is not obliged to return the amount that you have not used.
Well, if you still want to cancel your insurance, the first thing is to notify your insurer at least 30 days before your policy ends. And forget about the phone; This communication must be made in writing through a certified letter or burofax (so you have proof that this letter has reached them). If you still do it by phone, you will need the company to answer you in writing. And beware: do not even think about returning the receipt without having communicated it properly.
Car insurance: the communities where you pay the most
The reason you want to cancel your car insurance matters. In fact, in many companies it is only allowed to cancel the insurance when the property that is insured no longer belongs to the policyholder. And even so, the amount already paid will not be refunded.
There are three reasons why insurance can be canceled:
- That the insurer modifies the price or the coverage of the policy.
- That the insurer reduces the insured risk.
- That you regret contracting life insurance or insurance contracted online. If the insurance has been contracted online, you will have 14 calendar days after contracting it to cancel it; notification must be made by registered letter.