Is There A Penalty For Switching Car Insurance?

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   Mark Bartlett CLCS

   Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers

   This question depends on what you mean by penalty. Some insurance carriers may short rate you (hold back some of the premium) if you cancel early. Other things to consider is loss of renewal discounts some insurance carriers offer that may not transfer over to the new insurance carrier you chose. Always ask first before you switch to check to see if any fees apply.

   Answered on June 4, 2013

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