; ; Are my different types of coverage right for me? ; ; Are my limits high enough? ; ; What will I be responsible for paying out of pocket? ; ; What exactly does my policy cover? ; ; What doesn’t my policy cover? I found a cheaper policy with another company. Can I switch? Probably. You can cancel your policy with most insurance companies at any time. Just be aware that some companies do charge a cancellation fee. If you paid your premium in whole or in part already, you should get refunded for the unused portion. Be sure to check on all these details before youmake any changes. When you call to cancel, your insurance company might try to offer you incentives to keep you on. Don’t be surprised if they offer you a new quote that’s the same as — or even less than — other companies. If an insured is looking to switch to a new carrier, he or she doesn’t have to have that policy in place before canceling the old policy. Doing so doesn’t give the current agent a chance to re-quote, since there is already a new policy in place elsewhere. If the insured does end up moving to a new company and doesn’t want to stay with the current agent, the new company should be able to make the effective date of the new policy the same date as the cancellation of the old policy. The new agent would just have to let the new company know what day the insured canceled with the old company. However, I recommend waiting to see what the current agent can do for you before going somewhere else.
69
Powered by FlippingBook