When Can You Switch Auto Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   You need not wait until current insurance expires to replace it with another carrier.  In the past there was a penalty assessed if you cancelled prior to the cancellation date, however, most carriers have dropped that practice.  Occassionally you will find a policy that has a "minimum earned premium" clause which means that they will always retain at least that amount of the premium regardless of the date of cancellation.

   Answered on February 17, 2014

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