Image result for Car Insurance ComparisonYou may be moving to a different state, switching vehicles or simply dissatisfied with your existing company. The reason is yours but as a customer, you certainly have the right to switch carriers.
Do provide sufficient notice to your existing carrier.
And this is not for mere courtesy. Doing otherwise may cost you financially as well as impacting your credit history negatively, whether you think you deserve it or not.
How do I cancel my insurance policy,
Cancel your existing policy with a written letter of termination with a date for which this becomes effective.
What happens if I fail to inform my insurance carrier properly,
Failing to do so will not cancel the recurring monthly bill. You will even be billed the next term in advance. As the carrier receive no payment from you, the policy is then cancelled and this is recorded in your credit history.
Is there anything else I should be aware of during this time of switching,
You should ensure that you are covered at any point in time within the process of switching carriers. A lapse of insurance coverage during this switch may be costly and uncalled for should any untoward occurrence happen at this time.
Those are the repercussions that you face if there is no formal written notice from you, whether or not your coverage terminates at the end of the period of the insurance policy.
Any other repercussion,
That is not all. You may be quoted higher the next time you obtain your car insurance in consequence of the past default in payments. This is because you are then considered as a high-risk applicant.
Is there another way to cancel my insurance policy,
Alternatively, make a telephone call to your insurer and inform them of the effective date of termination. They will then follow this up with a form for you to sign. This is known as a cancellation request form. Do read it carefully prior to signing and returning it to your insurer.
After doing a ‘car insurance compare’ research, you may feel dissatisfied with your existing insurance carrier. This may be due to anyone or all of the following; price, service, extent of coverage, etc. If so, feel free to switch because you are the one who makes the monthly payments and you ought to be satisfied. You may surprised how a little research can go a long way in saving you cost and affording you more satisfaction as a customer.

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