When is an auto insurance cancelled?
Clarie :My insurance policy has been cancelled by my insurance company – what could be the reasons? What should I do now?
Why do auto insurance companies cancel policies?
Response : When your auto insurance policy is cancelled ,you are again put in a position where you need to compare auto insurance quotes or review car insurance to get an auto insurance policy, which is now time bound. This is a position you do not want to be at any time. You always want to be in a position when you compare auto insurance quotes or reveiw car insurance coverage to get low auto insurance rates, hence it is better to be informed about cancellation of an auto insurance policy.
When an insurance company refuses to provide you with auto insurance coverage, you are naturally placed in an awkward position because of lack of information.
Here are the reasons for cancelation :
If an insurance policy has been in force for more than 60 days and the insurance company decides to cancel the policy than any one of the reasons given might be true:
- You failed to pay the premium in time.
- You might have misrepresented a fact on the application – for example if you are doing business than you might not have declared the same.
- Your driving license might have been suspended or cancelled.
- The insurance company believes that you have committed a fraud.
The first thing that you should do is to find out what was the reason behind the cancellation, which may not be as serious as having your license suspended or fraud. You will have to rectify the reason for cancellation of the policy. You can shop around for on –line insurance quotes and find out the appropriate insurance company you would like to go with. It is most likely that you will have to satisfy the insurance company’s queries with regards to cancellation of your policy.
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Filed under: Auto Insurance Procedures
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