How much does it cost to cancel your car insurance?

I sold my car and do not need to drive anymore. How do I cancel my car insurance?

When it is time to cancel your car insurance, you will want to cancel your plan as soon as possible so that you don’t get charged for a policy that you don’t need.
Keep in mind, if you do not cancel your insurance and do not make your payment, your policy will be canceled for non-payment. This can negatively affect your credit record and put you in a high-risk category for future insurance policies.
Depending on your state and insurance company, you may be charged a cancellation fee that can start from $25 or 10% of the remaining policy. One way of avoiding the fee is by having the policy cancelation date and renewal date the same. Many insurance providers do not have a fee, but you can call them to check before canceling the policy.
When you are ready to buy car insurance again, give Jerry a try! The Jerry app can help you collect free quotes from up to 50 top insurance companies in seconds! Jerry can even help cancel your prior insurance.
Grace Cho
Answered on Nov 10, 2021

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