by sheelat » Wed May 15, 2013 07:34 pm
My insurance claim is under investigation. But I have decided to sell off my car and have been getting good offers. Is it possible to cancel the claim now or the policy itself, altogether?
Posted: Thu May 16, 2013 09:58 am Post Subject:
You may cancel your auto insurance claim for any reason. The company would happily terminate your claim. However, this would appear in your driving history.
Posted: Thu May 16, 2013 03:29 pm Post Subject:
You may terminate your insurance at any time, but not retroactively. Why would you cancel the claim? Is your vehicle being totaled? If so, then you might possibly consider the alternative of selling the vehicle as-is and foregoing the claim.
If your vehicle is not being totaled, you may still collect for the damages, but the money would rightfully belong to the new purchaser who could use it to make the repairs.
As was stated, the collision itself, if you were at fault, will not be erased from your driving history. And the claim, even if terminated, could remain on your CLUE rap sheet.
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