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Sheepish
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4,085 Posts
Discussion Starter #1
So I have a question for those of you who've been paying for your own insurance much longer than I have. The policy I have on my Stealth right now is like $255 a month for full coverage, and I've got 2-3 payments left on it before it expires. However, through shopping around in the last couple days, I can get the same coverage for $183 from another company. Obviously, I want to switch.

So here's the deal. How does this work? Can I buy the new policy, and just cancel my current one and its all gravy? Or do I have to pay out my current policy before I can switcgh without getting slapped with big fees?

Any advice would be helpful guys.
 

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2,638 Posts
Just tell each company what day you want to switch. Tell the first company that you want your insurance cancelled on the same date that you tell the second company that you want your insurance to start. Or tell the new company the day that your current insurance expires. They will start coverage on whatever date you want.
 

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2,983 Posts
I just went through that. Call your current company to see what the deal is. Some have locked plans for a certain amount of time and it might cost a fee to get out of it and some just go month to month and prorate whatever needed. Check with the new company. Get all the paperwork done or at least ask how long from the time to giving in info to the time of having insurance applied. When I did it, it took I think a day to get it finiallized. So see how long it will take. Then call your current company back (knowing if you can cancel at any time) and tell them the date you would like the end it.
 

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Sheepish
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4,085 Posts
Discussion Starter #4
:D Thanks guys, I'll look into it.
 
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