Hi guys it’s dale with the insurance today we’re going to talk about an article um that’s i mean it’s very commonit happens to all good majority of drivers at one point or another and sometimes it can be a mistake it could be miscommunication um but the title of the article is car insurance non-renewal what you need to know what you should know um and a non-renewal is um it’s kind of like a breakup in a relationship right it doesn’t really mean that either party has done anything wrong right it just means that this relationship is ending at a specified date.
That date typically is the end of the policy term right uh and note that a non-renewal could be.
I mean you can issue a non-renewal I’m not renewing with this carry I found a better rate I’m going somewhere else if the carrier is issuing a now renewal they typically notify you several weeks even months in advance just to give you enough time to find another carrier right um and when they notify you they let you know specifically why they’re issuing the now renewal right a lot of common reasons for non-renewals are um too many tickets right too many parking tickets.
A new DUI or DWI um perhaps
You even moved out of their coverage territory the reasons typically have to do with their perceived risk of insuring you their thought is hey listen things have changed you are not the same risk as you were when we put you on the books and because of that we aren’t comfortable ensuring you moving forward right so they issue that non-renewal um which is unfortunate but not not not the end not the end of everything you can still find insurance um but a non-renewal is quite different from a cancellation right it’s like a non-renewal there’s a good chance that even when you place coverage somewhere else.
Your rate won’t increase um which is quite different
The cancellation right cancellation the chances are your your rate’s going to increase when you move that policy um also with the cancellation they’re not carriers aren’t aspreoccupied with ending coverage at the end of the policy term right a cancellation they want to cancel as soon as possible that doesn’t mean they won’t get
They will provide a sufficient amount of notice
That you can move that policy but they can notify you about a cancellation a month into your policy term right so reasons for cancellations common reasons are um essentially committing fraud right so if you mislead the carrier on your application and they find out right um if your driver’s license is revoked right or suspended um if you’re missing premium payments right these these are all common reasons why a carrier won’t wait to the end of the in the term to let you know the policy term to let you know that.
We don’t want to insure you anymore
They’ll let you know right there in either case the best thing to do when you receive a non-renewal or cancellation is obviously to act immediately you do not want your coverage to lapse right so you want to have coverage lined up.whenever your current coverage runs out right um another thing to note.
don’t forget about trying to smoothen over the relationship
Your current carrier is right so oftentimes it’s literally just a miscommunication perhaps you forgot to pay to make a payment right and you just make that payment along with any late fee and everyone’s happy if you are able to smoothen it out with your current carrier.
Will just continue right um so hopefully
I mean there’s a greater likelihood one you’re not going to experience a rate increase and two there will not be a lapse in coverage your coverage will just continue right um so hopefully you don’t have enough renewal or cancellation in your future but if you do hopefully you found this helpful thanks.