Augusta
VIP Contributor
When it comes to car insurance cancellation it isn't only the insured that can do this for whatever reasons, the insurance company can also do same to the insured which they have their reasons as well.
The fact is that insurer cancellation of a car insurance policy doesn't happen as often as that carried out by the insured. This is why this act isn't popular as it rarely happens but it does happen when the need becomes very expedient for the insurance company
Some insurance companies opt to cancel car insurance policy of some clients and when this happens the insured you, is entitled to a some refund.
Now there are two main reasons why any car insurer will cancel a car insurance policy in the middle of the term. They two reasons are;
Non payment of your premium
There's always the agreement on the premiums to be paid on your car insurance. So if the insured is behind insurance premium such a contract will be cancelled by the insurer. In a situation like the insured will not be eligible for a refund as the insured is even owing the insurance company
Change in risk profile
The second reason why an insurer may cancel a car policy mid-term is if your risk profile has changed in a big way. This could be that the insured has been convicted of a certain serious driving violation, here the insured is entitled to a refund.
The fact is that insurer cancellation of a car insurance policy doesn't happen as often as that carried out by the insured. This is why this act isn't popular as it rarely happens but it does happen when the need becomes very expedient for the insurance company
Some insurance companies opt to cancel car insurance policy of some clients and when this happens the insured you, is entitled to a some refund.
Now there are two main reasons why any car insurer will cancel a car insurance policy in the middle of the term. They two reasons are;
Non payment of your premium
There's always the agreement on the premiums to be paid on your car insurance. So if the insured is behind insurance premium such a contract will be cancelled by the insurer. In a situation like the insured will not be eligible for a refund as the insured is even owing the insurance company
Change in risk profile
The second reason why an insurer may cancel a car policy mid-term is if your risk profile has changed in a big way. This could be that the insured has been convicted of a certain serious driving violation, here the insured is entitled to a refund.
