Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
Yes you can, but it probably is not advisable. Your current company would settle any legitimate claim that you may have so long as the loss is A) covered under the terms and conditions of your policy and B) so long as the loss occured during your policy coverage period. Remember that if for whatever reason your policy lapsed and was subsequently reinstated, any loss that may have occured during that period of lapse would not be covered.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can you switch insurance companies while you have an unsettled claim? Yes and no. With the ACA now the law of the land and there are only special situations that allow you to change out of the open enrollment window. If you meet one of those situations you can move from A to B without too much hassle. An outstanding claim is paid based on the date of service it occurred on. So your old plan would still pay any outstanding claims incurred during their time as your insurance company.
One thing, in switching you lose all already paid deductibles and co insurance and basically start over with new deductibles and coinsurance. It may not be worth it to move away right this moment. This is one of those pull out the legal pad and start doing the math. You may find no reason to leave a plan midyear. Maybe changing on 1/1 would make more sense.
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One thing, in switching you lose all already paid deductibles and co insurance and basically start over with new deductibles and coinsurance. It may not be worth it to move away right this moment. This is one of those pull out the legal pad and start doing the math. You may find no reason to leave a plan midyear. Maybe changing on 1/1 would make more sense.