Is it possible to cancel a policy temporarily ?

Submitted by Anonymous (not verified) on Fri, 03/24/2006 - 10:00

Hi

I just wanna go abroad for a couple of months where in I won't be using my car. Since my car would remain parked for all this time it won't need any insurance for the period. Thats why I'd just like to know if there are any car insurance companies with whom its possible to register a temporary policy cancellation whenever I'm abroad and can reinforce the policy once I get back ! I am asking this since I am sure that it won't be possible for me to get another auto insurance policy at the same rate once I get back to US.

Jeremy

Posted: 12 Jun 2006 02:38 Post Subject: Auto insurance buying tips

Almost in all states it is mandatory to have auto insurance if you do possess a car. The lawsuits and regulations may vary between states regarding the coverage, claims, and documentations. There are so many auto insurance companies and selecting a cost effective insurance policy with the right insurance company is no doubt a hard job to do. Here are some tips to buy an auto insurance policy:-

Make a list of the coverage: Decide and make a list of the coverage that you think to have. You may consider your driving habit in deciding the coverage level. There are liability coverage, collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, medical cost coverage. Most of the states require to carry the minimum amount of liability coverage. For the ratio you can check this out. Comprehensive coverage, medical coverage and UI/UNI coverage are optional in some states.

Practical Reaserch: Before set out for an insurance company just have a look over these matters: What kind of vehicle do you have, your driving place, your living place, your driving record, who else to drive your car. Because these factors may play some crucial game in determining the price of insurance.

Right Insurance Company: After researching so many practical facts, you need to find a right insurance company first for your car. Several things to be considered in this aspect:

a) Judge the financial strength of the company through A.M. Best and Standard & Poor's ratings.
b) Have a watch over J.D. Power and Associates' consumer satisfaction surveys of the auto insurance companies.
c) Get information of reliable companies from the near relatives and friends.
d) Local body shops and dealers may likely to supply some reliable company names.

Get quotes: Make a note of 4 to 5 insurance companies what you think best. With the help of internet or over phone you can shop around those companies to get a better quote for your car. Because prices for the same coverage can vary.

The Discounts: Opt for discounts on the insurance premiums while talking to the insurance companies. You may put some points like, good credit score, good driving record, safety equipments attached to your car, in favor of getting discounts.

Time to purchase Insurance: Now you have selected the company to insure with. Before signing read the policy throughout. Always try to retain your right to sue. If there is any kind of disagreement relating to some terminology or sentence in the policy just move to another company.

Proof of Insurance:
Ask your insurer to get an insurance card as in many states it is required the drivers to carry a proof of insurance.

More Car Insurance articles.
Ways to lower the cost of teenage auto insurance.

Posted: 09 Nov 2006 12:43 Post Subject: what is the fee

what is the fee if your insurance is canceled in maryland

Posted: 10 Nov 2006 07:52 Post Subject:

hey..did you maintain the minimum coverage for liability, personal injury and uninsured motorist protection ?

I think your insurer would also need to report your cancelation to the state administration following the Maryland state automobile guidelines.

I'd appreciate if you start a new thread whenever you come up with a new query, rather than adding to an older one. This might drag the attention of the community members in a better way. Isn't it ?
thanks, Tammy Green

Posted: 10 Nov 2006 08:27 Post Subject: The MVA comes into play!

You're certainly right Tammy!
The Maryland Motor Vehicle Administration would conduct a random sample of the registered vehicles to check if the owners have the minimum coverage in place.
Otherwise it may also request the owner to do a Financial Responsibility Filing (FR-19) to prove that he's maintained adequate coverage since the time he purchased the vehicle.

In case he lacks, the MVA would surely charge him for each day of lapsed coverage, and this amount may vary depending on the coverage he opted for.
regards, Phil_attorney66

Posted: 25 Nov 2006 05:47 Post Subject:

Some companies will let you suspend a vehicle on the policy if it is going to stay in one place and not drive it...it still has some coverage on it but they dont charge as much. It is something to look into.

Posted: 14 Jan 2007 09:20 Post Subject: Thank you

post removed as per forum rules, thanks.

Posted: 10 Feb 2007 08:57 Post Subject:

I think thats not possible.Once you buy a policy or an insurance cover,then you have to wait until it expires or else if you cancel it yourself or put it on hold,then then you will have done the insurance a good job by taking them off the hook without any loses on their part and you are the one who will loose for the remaining time your cover was supposed to help you.

Posted: 10 Feb 2007 04:24 Post Subject:

Stella sorry I do not agree with you on this. You can cancel your policy and not pay the company at any time. They have to refund you from the day you cancel your policy. Also there are companies that will suspend your coverage if it is not being driven and just parked....it will just cover the car in case something happens to i while it is sitting there. I know Allstate does this I used to write for them, and some people esp those who would leave the area for 6 months would suspend the coverage. They paid a much lower premium yet maintained the coverage and it was still covered if something happend while it was just sitting there.....make sense?

Posted: 21 Aug 2007 06:42 Post Subject: policy

My insurance company can cancel a policy, TEMPORARILY, for you ( for so many months)...if someone is having a rough time, financially. However, if something happens , 'circumsyances beyond your control' ( ie. being Deployed in the military) then you can cancel it 'until furthur notice'. I don't know if I can post 'my' insurance company, on this forum. If anyone would like to know, please PM me. My 'Quick Messages' aren't working correctly. Thanks.

Posted: 14 Dec 2007 05:21 Post Subject:

You would have to ask the company itself. But you should keep in mind that if your car is going to be parked somewhere, make sure that it's parked in a garage or somewhere secure. You don't want some lunatic crashing into it while it's sitting in the driveway.

I'm assuming that suspending the policy will mean that they don't have to pay anything if something does happen. So you should use it with caution, and make sure that nobody is allowed to drive it!

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