steve bechler asked:
Heres the deal i got a car and put safe auto on it. i then wrote the postdated check for 7 days from then. well today (5 days after getting my car) i found a lot cheaper insurance. CAn i canel the saufe auto and not have to pay the full amounnt??? or do iahve to essentially pay 2 full months of car insurance????
Yes you can cancel it. you will only be responsible for the time you used it, if any.
When you cancel the policy mid-term (meaning, any time except 12:01 on the renewal date), the insurance company is entitled to a bit extra to cover their processing costs – called a “short rate” cancellation. AND, in some states, they’ll ALSO charge a cancellation fee.
So you won’t get your full amount back. But if you paid for six months, you should get five months less cancellation charge back.
YOU ARE ONLY RESPONSIBLE FOR THE AMOUNT IN TIME THAT YOU USED IT.