Each company involved can have an “accounting period of up to 30 days”. An insurer may require 30 days notice to offer a return premium. As long as the car is for sale and potential buyers test it, you should keep your insurance active. When the interactive voice response system prompts you, say “cancel the insurance policy” and then “automatic” if you are going to cancel your car insurance policy.
If you decide to cancel an insurance policy before the agreed term ends, your insurance provider will owe you the unearned premium. For example, if you have a Progressive policy, Progressive Insurance has the ability to deliver a premium refund check within seven business days of cancellation, which is quite surprising as far as insurance companies are concerned. The mission of The Truth About Insurance is to provide unbiased and objective insurance advice and advice to consumers on a variety of topics, ranging from car insurance coverage to health care and more. If you didn't do this step long before your policy was renewed, or even during the middle of the policy term, your old insurer will owe you the amount you overpaid for their “too expensive” insurance.
Insurance companies only take the step of canceling coverage for a period of time if you seriously violate the terms of the insurance contract. How you should handle the cancellation of car insurance depends on whether it is you or the insurer who rescinds the policy. You may also be eligible for auto insurance reimbursement because of a change you made to your policy. Repossession isn't a fun activity to participate in, especially when it comes to repossessing your own car, but you should cancel your car insurance if your car is repossessed.
Finding better rates If you find a better rate on your insurance and want to change, you should cancel your insurance policy. Comprehensive insurance covers damage to your car caused by events other than collisions with other vehicles or stationary objects. If you have already paid the premium for the policy period in full, Liberty Mutual will reimburse you for the unused portion, less cancellation fees. To exclude yourself from a car-sharing insurance policy, you must ensure that you don't owe any additional fees, so contact the company that administers the policy and get clear details of your liability.
You'll need to provide basic information about yourself, your Liberty Mutual policy number, and the date you want your policy to end. However, the exact amount you can recover depends on whether it was you or your insurer who decided to cancel the policy, the time you have left on your policy, and your insurer's rules when it comes to reimbursements.