Jack Z asked:
I got a new auto insurance last November and it expires end of May. I paid $320 for 6 months. The rate was higher due to a moving violation.
Well, the violation is off my record now…. and when I got a quote today with another insurance company, it was $150 for 6 months.
So would it be cheaper for me to cancel my current coverage ($50 early cancellation applies) and get the new coverage? Or just keep the current coverage and apply again in June?
My current insurance is paid in full.
So can someone good at math tell me how much would I save if I canceled and reapplied?
Can you apply for the new Policy; Effective Start Date—June,2009 and just keep the current Policy until it expires. You would only save about $25 buy the time you finished messing with it early?
yea i would cancel it, right now your paying about $53.00 a month, so you still have $106.00 lefft on the old police, if you cancel now, that will technically put $50.00 in your pocket to go towards your new policy with only owing $100.00 out of pocket will be getting your new insurance for $16.00 a month,
if you wait it will be like getting your insurance for $25.00 a month which is still better than $53.00, it’s really just about shifting money to get a better deal