When Can I Change Car Insurance?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most companies will allow you to cancel insurance at any time without penalty.  Some charge what is known as a “short rate cancellation” that might reduce the amount of any unused premium.  I assume that you are cancelling the policy because you no longer own the car.  If you still own the car I recommend that you purchase comprehensive insurance if the car is less than 10 years old and will not be driven.  That will pay for damages that occur to a non-operational vehicle like a tree falling on the car, or windstorm damage.
    Answered on May 30, 2014
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