Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
Car insurance policies typically do not charge a cancellation fee.If you terminate a policy, you will be given a refund based on the unused portion of your coverage. Typically, the process takes about a week.
It is possible that your refund will be "short-rated," which means that a small penalty may apply to the portion of the refund you are getting back.
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
It may be possible for a car insurance company to "short rate" your requested cancellation which means that they would retain a certain small percentage above and beyond what has been fully earned for the term and refund you the balance. That had been a more common practice years ago but for the most part, that doesn't happen too much any more. For the most part, your policy would be cancelled as requested and the appropriate refund of any pre paid premium returned to you without any additional charge. Naturally, the amount of refund would be determined by the amount you had pre paid or the term and where you happen to be in that term.
.JPG){kind=avatar}
It is possible that your refund will be "short-rated," which means that a small penalty may apply to the portion of the refund you are getting back.
Your broker/agent can review specifics with you.