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Started By
Message
Auto Insurance Question
Posted on 6/24/16 at 8:09 am
Posted on 6/24/16 at 8:09 am
I'm switching car insurance from company #1 to another company #2. My new policy (company #2) is active starting on Monday. My old policy (Company #1) payment goes through tomorrow (Saturday). I'll be out of town, not driving my car until the new policy is activated on Monday.
Should I just call and cancel my current policy now before they draft my account? Any repercussions for doing that?
Should I just call and cancel my current policy now before they draft my account? Any repercussions for doing that?
10
Posted on 6/24/16 at 8:11 am to CajunCommander
Any lapse in coverage will result in DMV fine...doesn't matter if you're not driving it
Posted on 6/24/16 at 8:12 am to CajunCommander
Not sure. My license has been suspended for about 5 years now due to numerous driving infractions.
Posted on 6/24/16 at 8:13 am to CajunCommander
Let it overlap. You don't want any amount of time uninsured.
Posted on 6/24/16 at 8:14 am to Skeeter 79
quote:
Any lapse in coverage will result in DMV fine...doesn't matter if you're not driving it
This...
You already have a lapse for Sunday.
ETA: call your new company and see if they can change the start date to either today or tomorrow
This post was edited on 6/24/16 at 8:16 am
Posted on 6/24/16 at 8:19 am to CajunCommander
If you try to cancel and you have a few days gap, when it comes time to renewal and your underwriters review the policy, they will see that gap and spike up your rates.
Posted on 6/24/16 at 8:20 am to CajunCommander
Cancel once the new policy takes effect, company 1 will prorate your refund.
I believe someone also mentioned that the cancellation will trigger an alert to the DMV to flag your license.
I believe someone also mentioned that the cancellation will trigger an alert to the DMV to flag your license.
Posted on 6/24/16 at 8:21 am to bofa
quote:
call your new company and see if they can change the start date to either today or tomorrow
New company should back date your policy to keep you covered. I would call them ASAP.
Posted on 6/24/16 at 8:23 am to bofa
How is he not covered Sunday? If current policy is active the payment withdrawal will only continue his coverage.
OP, do you pay monthly, every 6 mos or yearly?
OP, do you pay monthly, every 6 mos or yearly?
Posted on 6/24/16 at 8:30 am to CajunCommander
As another poster said, it is best to avoid gaps in coverage.
This post was edited on 6/24/16 at 8:33 am
Posted on 6/24/16 at 8:37 am to CajunCommander
An insurance contract is unilateral. You can cancel at anytime. Let your current policy go to Monday and then cancel. You will get any unused premium sent back to you.
Posted on 6/24/16 at 8:43 am to CaptainsWafer
I pay monthly. I wont cancel my current coverage until Tuesday after my new coverage becomes active on Monday. I'll just be double covered on Monday. So my current company will just have to back pay me for 29 days out of the month 
Thanks for your help guys. This is what I needed to know.
Thanks for your help guys. This is what I needed to know.
This post was edited on 6/24/16 at 8:45 am
Posted on 6/24/16 at 8:47 am to ATL-TIGER-732
quote:
As another poster said, it is best to avoid gaps in coverage.
How do people get away with not having auto insurance. Maybe the once a year BR inspection sticker is not that bad after all.
This post was edited on 6/24/16 at 8:48 am
Posted on 6/24/16 at 9:01 am to Skillet
You can call them today and tell them to cancel it anytime/anyday you want.
Posted on 6/24/16 at 9:01 am to CajunCommander
It happens more often than you think, it won't be a big deal for them to cut you a check back for the difference.
If you went uninsured for those few days, you'd be paying the DMV that same amount (+/-) in fees and you won't get it back.
If you went uninsured for those few days, you'd be paying the DMV that same amount (+/-) in fees and you won't get it back.
Posted on 6/24/16 at 9:07 am to CaptainsWafer
quote:
How is he not covered Sunday?
Read the OP wrong... Thought he said is old policy ended Saturday.
Posted on 6/24/16 at 9:10 am to CajunCommander
Company 1 should pro-rate the bill for the month. Just drop it the same day company 2 starts.
Posted on 6/24/16 at 9:10 am to CaptainsWafer
quote:This. Though there may be a period between letting them know you want to cancel and the cancellation taking effect. But once it's cancelled, you'll get a refund for prorated premiums. I pay mine in advance every 6 months to save 10%, and when I last switched over, they just prorated me back the months not used.
Cancel once the new policy takes effect, company 1 will prorate your refund.
Posted on 6/24/16 at 9:28 am to NaturalBeam
So you guys are saying that somehow every insurance company that writes in LA is tied in to the DMV somehow and they know when a policy has lapsed? Plus the DMV will charge/fine you for any days that you weren't covered? That's some big bro shite right there.
Posted on 6/24/16 at 9:33 am to ConfusedHawgInMO
quote:
So you guys are saying that somehow every insurance company that writes in LA is tied in to the DMV somehow and they know when a policy has lapsed? Plus the DMV will charge/fine you for any days that you weren't covered? That's some big bro shite right there.
quote:
ConfusedHawgInMizzou
Yep. User name checks out.
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