Cancelling Car Insurance?
Answers:
Generally speaking, you can cancel it - provided there is no claim. If there is any kind of claim against the policyholder, the situation may be somewhat different.
Usually, unless there are any special conditions attached to the policy, the company will provide a proportional refund - AFTER deducting administration charges. Typically, you might receive 60% of the premium paid - it depends on the company.
Some companies will NOT refund if it is your first year of insurance with them.
Don't forget also that you must return the Certificate of Insurance (send it recorded delivery).
The answer that suggests that, if you are paying monthly you do not need to continue, is incorrect. The company may well agree to payments stopping, but they will require more than just one month's payment. It is not their fault that the car was written off. He suggests that you cannot pay for something which no longer exists - the policy STILL exists.
I am sure you can cancel it. The car has been written off so there is no car to insure.
most insurance policies have a "part term" cancelation clause that means you pay a percentage depending on how much time is left on policy. but its weighted in their favour, not yours.
it can be cannceld but the insurance company will take part of the payment for covering the car while on the road the thing is they will take a big chunk out of the cash possibly about 6 or 7 weeks worth
If they took on installments probably there will be a fee but certainly cannot pay for something that does not 'exist' any more. If paid in one payment will get some refund depending on whose fault the accident is. This is not a cancellation as such, it is change of circumstances - this important as insurance company will be notified that the car is written off - so payments will have to be discontinued.
good luck
Cancellation should do it. State laws can mandate that the tags be turned into the DMV if there is no insurance. There may be some penalty from the insurer, but it cant be as bad as paying for the entire year.
yes you can cancel it but they will charge an admin charge and maybe another months premium, they need to call up their insurer and explain the situation.. most UK insurers are helpful
You can cancel, but you'll have to send the company something in writing. Most of the time when that happens, the person buys a new car, and transfers the insurance to the new car - but if you aren't replacing the car, definately cancel the policy.
In the U.S. (greatest country in the world) you can cancel the policy and be refunded a pro-rated amount.
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