It still may be worth canceling your policy even if youll incur a penalty.

Can you cancel car insurance without penalty. Receive confirmation of your policy cancellation after. Dont let your car insurance lapse. Some companies let you cancel car insurance without penalty but may still require a written cancellation request.

Check your policy for the specific steps you need to follow Contact your insurance company. You may have to pay a penalty if you cancel your policy before its expiry date. A pro-rated cancellation gives you back the full amount of the unused premium while a short-rated cancellation takes a certain amount out.

Confirm whether your policy will be cancelled immediately as some insurance companies require 30 days notice to cancel your car insurance without penalty. Car insurance companies will either offer a pro-rated cancellation which gives you back the full amount of the unused premium. Depending on your situation there may be an additional withdrawal from your account to cover any missed payments or non-refundable fees.

In fact Progressive may offer a pro-rated refund on any premiums youve paid but havent used. You shouldnt have to pay a cancellation fee although some companies may try to charge you. This is within 14 days of taking out the policy.

The best time to cancel your car insurance is after you have another policy set in place. But be aware that some car insurance policies do. Most policies run on a yearly basis.

The car insurance cooling-off period. Insurers cannot charge you a cancellation fee if you choose not to renew an expired policy. But you will be charged for the time when the policy was active and you may also have to pay an administration fee.