Should I let my old auto coverage lapse since I'm switching to Allstate now?

"I'm not going to be renewing my old policy. Do I still need to formally cancel it?"

Answer
“When changing your car insurance provider, you need to ensure that you don’t have a lapse in coverage. This means you should formally cancel your old policy and align the expiration date of your previous insurance with the start date of your new Allstate policy.
If you have a lapse in coverage, you’ll be charged higher premiums for insurance down the road.
Also, some companies have automatic renewals, so it’s best to check with your old company to ensure that you don’t have either a lapse or period of double coverage, in which case you would be owed a refund.”
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Sophie Newman
Answered on Jul 26, 2021
Sophie Newman is a writer from California. Her hobbies include brewing her own kombucha, riding horses, and taking long road trips.
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