Many people think they can’t cancel car insurance once they buy a car insurance policy, usually for six months to 1 year. The agreement you sign with the insurer can be mutually terminated. That means the insurance company can cancel your coverage without notice. An automobile policy is unlike a lease for two years that comes with major penalties.
The truth is, at any point, you can cancel car insurance and get a refund for the amount of coverage that is unused. Even if your policy is about to expire in 4 or 5 days, you can cancel it and get a bit of your money back. You should never feel guilty about canceling your insurance. If you are not satisfied with your insurer for any reason, take your hard-earned money elsewhere.
Reasons Why You Should Consider Cancelling your Auto Insurance
You might need to terminate your car insurance policy for a number of reasons. Here are just a few examples:
- You sold your vehicle and no longer need to insure it
- Your car is in the storage and won’t be driving it for a long time
- You are upset with an insurer’s service or dissatisfied with an accident claim and want to change carriers
- Feeling like you are paying too much for the coverage and want to save money by switching to another insurer
Probably the most common reason people change carriers is they have found a cheaper rate with another company. Getting insurance quotes is easier than ever, thanks to sites like Amigo Insurance.
With free quoting sites like Amigo Insurance Company, it only takes a few minutes to compare rates with multiple providers. The smart insurance shopper is going to check rates at least every six months because it’s so easy and there is no obligation.
With just a few clicks of the mouse, drivers can often find deals that save them 30% and more. The important thing is to consistently check rates online and not be afraid to switch carriers. Just an hour a year of rate quoting can potentially save you hundreds.
Come Insurers Will Help You Cancel Your Old Policy
Most online carriers make canceling fast and hassle-free. You can manage your policy online and, with a couple of clicks, end your policy. Some carriers will even assist you in canceling your policy.
Once you cancel car insurance, you should get a confirmation email and refund notice within a couple of hours. Most people prefer to cancel their policy online, without calling an agent, because they don’t have to deal with an agent or broker that might pressure them into not canceling, so they don’t lose out on a commission. If you get this treatment, be firm, and ask to talk to a supervisor and report how you were treated. To compare free quotes online in minutes, just enter your zip code to get started.
Be Smart When Switching Insurers
Insurance companies are, by all means, not equal. Some of the smaller insurers try to gain market share by offering super low rates. This is great until you get into an accident and the company delays paying you on a claim or, even worse, goes bankrupt.
Insurance is an important financial consideration you should take seriously. Take a few minutes and do some research into any prospective insurer you are thinking of switching to and read reviews about their claim process. You’re entrusting the firm you do business with will be able to make a claim payout when needed.
Also, check any insurer you are considering switching to A.M. Best rating profile or Standard and Poor credit status. If the company is financially solid, they have the means to pay claims. If they are not, don’t do business with them, no matter how cheap their rates are. Also, look at the company’s overall customer service ratings. You should probably go elsewhere if there are numerous complaints and bad reviews.
Never Cancel Car Insurance Policy Before you’re Fully Insured Elsewhere
Many people make the mistake of canceling car insurance before having new coverage. This might not seem like a big issue, but it is. Insurance carriers look at any lapse in coverage as a big negative and will bump up your premiums quite a bit, even if you’re not insured for just a few days. Make sure your new policy is locked in and active before you cancel your old policy.
Find Cheaper Auto Insurance With Amigo Insurance
Are you tired of paying too much for your current policy and don’t know if you can get lower rates? Amigo Insurance Company will help you cancel car insurance coverage and get cheaper premiums in only a few minutes.
Most customers save $500 a year or more with Amigo Insurance. Get your free online quote and start comparing rates right away.