When to inform insurance I'm switching?

Discussion in 'Ask An Owner Operator' started by Wespipes, Apr 22, 2021.

  1. Wespipes

    Wespipes Heavy Load Member

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    Renewal date is 5/12. I switched and my new policy goes into effect 5/1. When should I call the old insurance company and inform them I'm not gonna renew with them? I was thinking on 5/1
     
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  3. calnca

    calnca Medium Load Member

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    You should notify current insurance now. Due to the filing , which requires 30 day notice to cancel, you won't get any money back from the current policy, even though technically you will have duplicate coverage.

    SOME insurance carriers might go ahead and give you some back, but don't count on it.
     
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  4. pavrom

    pavrom Road Train Member

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    Y dont start new policy on 12?!
     
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  5. Doealex

    Doealex Medium Load Member

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    It's like driving to the gas station on the other side of a town tens of miles to save few pennies on the gas price difference.:):D:eek:
     
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  6. Wespipes

    Wespipes Heavy Load Member

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    Rather have an overlap then a lapse
     
  7. Doealex

    Doealex Medium Load Member

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    Why would you have a lapse if you make sure that you have all "your ducks in the row"? In my experience 12 days in overlap equals $500 or more (car-hauling).
     
  8. Wespipes

    Wespipes Heavy Load Member

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    They have to file notice with the fmsca. I don't trust the government to do anything right or on time
     
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  9. Doealex

    Doealex Medium Load Member

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    You might be right, a lapse in insurance might automatically trigger inactivation of your numbers.
     
  10. pavrom

    pavrom Road Train Member

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    I switched insurance companies many times with different companies and never had any issues ...couple times i was getting quote literally 2 days before expiration date and its never been an issue ....
     
    Last edited: Apr 22, 2021
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