Share on Facebook If you want to cancel a current insurance policy, you need to inform the company in writing. Be professional in both tone and substance. Do not vent about your unhappiness with the company or its service; just straightforwardly convey your desire to terminate.
Suite Springfield, Ohio RE: Car Insurance Policy Number: Please stop all debits or charges for premium payments. I am also requesting written correspondence of the cancellation and the refund of any premiums.
The cash value of the policy should also be sent with any returned premium. This action needs to occur within a period of 30 days from the receipt of this letter. Sincerely, Main St Springfield, Ohio Be sure to check for spelling errors and verify all information, including names, addresses, and the policy number.
Use business letter format when typing the letter. Make sure you have the correct mailing address. The insurance company would not be held responsible for a document they did not receive. Insurance companies are often large operations with many departments.
You want to ensure that your letter goes exactly where it needs to The main policyholder should be the only one to sign the letter. Before you cancel, you should have a new policy set up and ready to go.
A lapse in your car insurance can cause you many problems. Consequences of letting your car insurance lapse include: Fines for driving uninsured Responsibility to pay for all damages due to an auto accident that you caused A record that shows the lapse and may result in higher premiums for future policies Tying Up Loose Ends Once you have successfully canceled your car insurance, you will want to take care of a few more things.
This may be a requirement in some states. If your car is financed, you should notify the lienholder that you have changed car insurance companies.
Keep in mind that most finance companies require insurance coverage on financed vehicles. If they discover that their vehicle is not insured, you will likely be asked to return it. Conclusion Canceling a car insurance policy is a relatively quick and easy process. As the consumer, you always have the right to cancel the policy at any time for any reason.
Establish the date you want it to end, request your refund for overpaid premiums and make sure you have another insurance company lined up to take its place if you plan to keep driving the car. Once you have written the cancellation letter, you can either mail it or fax it.
Compare quotes today using our free tool below.The letter can then read something like, "Please take this letter as a formal request to cancel my insurance policy and stop all charges to my credit/debit/bank account from your agency. Please make this cancellation effective as of (date).
Before you write an Insurance Cancellation Letter, make sure you thoroughly read the policy to check if there are any provisions regarding the whole process. The policy may contain the notice period and the department name where you should address the letter.
Insurance cancellation letter. Insurance company Name of the department Insurance company adress Insurance company city and zip code Date: [ ] Re: Cancellation of insurance, policy number [ ] Dear Mr/Mrs, I am sending you this written notice to request cancellation of my insurance effective [date of .
Why Did I Get a Car Insurance Cancellation Letter. Share Flip Pin Email ••• Jordan Siemens/Taxi/Getty Images By Emily Delbridge. Updated October 22, Auto insurance coverage is not a luxury -- it is a necessity.
With a very few notable exceptions, it is a legal requirement for drivers in the United States. or the insured moving to. Sample 3 - Auto Insurance Cancellation Letter Today’s Date Name on Policy Address of Policyholder ABC Insurance Company Address of Company ATT: Cancellations RE: Auto Insurance Policy # Please consider this letter as a formal request to cancel the referenced auto insurance policy.
Please stop all debits or charges for premium payments. Before you write an Insurance Cancellation Letter, make sure you thoroughly read the policy to check if there are any provisions regarding the whole process.
The policy may contain the notice period and the department name where you should address the letter.
Learn how to write an insurance cancellation letter with our step by step guide.