Are You Canceling Your Auto Insurance Policy?
Posted by Admin at 1 November 2020, at 08 : 19 AM
Are you thinking of switching auto insurance company where you live? Is your car insurance premium right now is so expensive that you don’t think you can afford to pay it anymore? How do I do this? Do I just not pay it?
In general, if a policyholder wants to cancel his or her auto insurance all he/she needs to do is to inform the auto insurance company though writing. Included in the letter would be the date on when the policyholder wishes to cancel car insurance policy.
In addition, from what I knew, they are also cases that your new car insurance agent must inform the previous agent about the change. Also, depending on the insurer company’s guidelines, some also ask for the copy of the printed policy to be sent back to them.
Usually, if you decide to cancel a car insurance policy, the insurer will be sending you a form of cancellation request. This cancellation request form needs to be signed by you (if you are the policyholder) and have it returned to the car insurance company.
If you wish to cancel your car insurance policy, do it in writing. If you chose not to pay your auto insurance policy then it would be cancelled due to non-payment. And by this, it will surely affect your credit history and the next time you purchase auto insurance, you might be charged with higher car insurance premium.