Can I cancel my auto insurance policy within 14 days?
You can cancel your auto insurance policy at any time. There may be fees associated with early cancellation, so be sure to check before applying.
- You must apply for auto insurance before receiving a final offer of coverage.
- When you apply to an insurance company, you will receive a temporary folder that gives you coverage for up to 30 days.
- You have the right to cancel your car insurance policy early, no matter who you are insured with.
- If you sell your car or change carriers, you can legally cancel your policy shortly after it’s issued.
- If you need short-term coverage, try to find it through a provider that doesn’t charge you a fee to cancel.
Getting car insurance can be a complicated process. Not only do you need to gather all the license and vehicle information, but you also need to request quotes to find the best rates in town.
Once you’ve compared the quotes, you’ll need to select the best combination of coverage limits and the best policy.
Then, once you’ve made your final selection, you’ll need to start the application process, which can take anywhere from 30 to 60 days.
You will be covered from the moment you apply, although it takes time to finalize an insurance fee and issue a policy.
Be sure to send your first payment with your application and ask for a binder so you don’t miss out on coverage.
Are you legally allowed to cancel an auto contract you’ve applied to enter into?
Auto insurance is a legally binding contract. If you read through your policy booklet to understand the terms and conditions of the contract, you’ll find much legal that’s difficult for the average consumer to understand.
Even so, both parties that enter into the contract must satisfy their duties when an application is submitted.
The state’s consumer rights dictate some of the rules laid out in a policy.
When you buy auto insurance, one of your consumer rights is that you’ll be able to cancel your policy at your request.
But can you change car insurance before the renewal date? And it is. It doesn’t matter if you’re approaching your renewal or if you have almost an entire year left on the term, you have the right to request a cancellation.
What are some legitimate reasons to cancel your policy early?
It’s not ideal to cancel your insurance early, but sometimes there are factors beyond your control, and other times failing to do your research costs you money.
Here are a few valid reasons you could cancel early:
- You sell your vehicle and don’t plan to buy a replacement.
- You give your vehicle away and decide to surrender your driver’s license.
- Your vehicle is totaled in a loss, and you decide not to purchase a new one.
- You move out of state suddenly.
- Your final rate is higher than expected, and you buy insurance elsewhere.
- If you cancel within two weeks, will there be a fee? Find out.