in part already, you should get refunded for the unused portion. Be sure to check on all these details before you make 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 you do decide to switch, there are a couple of things to keep in mind. One is to make sure you don’t go without insurance for any length of time. In fact, you should have paperwork from the new company before reaching out to the old one that you’re even thinking of canceling. Your new policy should already have begun before you officially cancel your old one. The other thing to remember is that you need to formally cancel your old policy. If you don’t do this and just stop paying instead, you’ll get reported for non-payment, which will mess up your credit score, which will, in turn, increase your premiums and affect your financial health in other ways, too. Be sure your old insurance company sends you written confirmation that your policy has been canceled.
How often do policies change?
State insurance laws don’t change very often — maybe once a year, maybe even less. The policies themselves can theoretically change pretty often, though. It all depends on what changes the company is making regarding offering new coverages or modifying or dropping old ones, and they can do this at any time. Don’t worry, though — once you’ve signed a policy, nothing can change until your policy ends.
Regardless of where the change is coming from, it’s the law that
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