This allows the insurer to revoke the policy. Insurance companies can terminate policies due to a range of reasons which include fraud, non-payment or false representation. These are three of the most frequent reasons when your auto insurance is ended.
1. You might not be able to drive your vehicle
It is possible that you will be barred from legally moving your car after the insurance policy has been cancelled. If you don’t reinstate the insurance policy, you aren’t able to drive your car through public streets.
2. Your car insurance rates will go up
It is likely that your rates will be higher if you decide to renew insurance. Insurance companies view drivers who have canceled their insurance as more risky
3. You May Lose Your Registration Refund
If you cancel your car insurance at the mid-point, you might have the right to claim a registration refund insurance. However, if you have already paid your yearly fees for registration, you’ll have no right to a refund on the fee.
The End of the Story
The cancellation of your car insurance policy can be an inconvenience, and may cause you to pay more later on. There should be a second form of car insurance if you decide to cancel your insurance. 7suuttoo6q.