People cancel car insurance policies for several reasons. Some do it because they plan to switch policies or insurance brands, while others do it because they plan to sell their car or stop driving for some time.
Whatever the reason, knowing how to cancel is useful if you own a car. Here’s a general guide on how to cancel your car policy easily. We’ve divided this into three parts for an easier understanding.
Before you cancel
Before taking any steps, carefully review your car insurance policy to understand the cancellation process, including any fees or penalties that might apply. Explore if there are alternative options before cancelling, such as switching to a different coverage level, reducing your driving mileage, or putting your car in storage.
When contacting your insurer, be prepared to provide your policy number, driver’s license number, and the date you want the cancellation to be effective.
How to cancel
Step 1: Contact your insurer by phone, email, online chat, or by visiting an agent’s office.
Step 2: Submit a written notice if your insurance company requires it. Some insurance companies require a written cancellation notice, which you can download from their website or request by phone.
Step 3: Follow the specific instructions from your insurance provider. This may involve returning your insurance certificate after signing a cancellation form. The cancellation procedure varies across companies, so be sure to follow their specific instructions carefully.
After cancellation
After the cancellation procedure is done, expect a refund within a couple of weeks. Usually, policyholders are given a pro-rated refund for any unused portion of their premium. This will be calculated based on the remaining time on their policy. If you are going to keep driving, make sure you have new vehicle insurance in place before your current policy is cancelled.
Things to note
Insurance cancellation is often a time-consuming process. So, when dealing with your insurance company, be polite and professional to ensure a smooth cancellation process. Remember to clarify doubts and if you have any questions about the cancellation process, don’t hesitate to ask your insurance company.
Bjak is one of Malaysia’s biggest insurance comparison websites, offering policies from over 10 brands. Visit Bjak today to get your free insurance quote!
Read more:
