I may have 4 or 5 months left on my current plan (liability only on one 2000 Plymouth Voyager. I don t like my agent or his staff and have purchased a new plan with another company in Colorado The vehicle is only used for personal use by myself and my wife. Can I cancel the remainder of the policy with the existing company and use my new one?

  1. 0 POINTS
    Dmitriy Glazer
    Most likely you can cancel your existing policy. However, some insurance carriers impose midterm cancellation fees, which you may be found responsible for.
    Also, make sure you cancel the existing policy with the date of the replacement policy became effective on.
    Your prior insurance carrier will pro-rate your policy and refund you with unearned premium. If you are on a monthly billing, as a result of the pro-rate you may be billed for an additional premium.
    Remember, that insurance carrier may audit your exposures up to 3 years in the past.
    Answered on November 6, 2013
  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    If in fact you have already purchased new car insurance with another company, then yes, you cartainly can request a cancellation of your previous policy.  The old policy should be cancelled effective the date that your new policy went into effect.  The request to cancel will be requested in writing for record purposes.  YOu can talk to your new insurance professional about that.  They will more han likely be able to prepare a standard form for your signature that stipulates the exact cancellation date.  This will be signed by you then forwarded to your old carrier for processing. Any refund owed to you will be sent upon the processing of that cancellation.
    Answered on November 6, 2013
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