Can you cancel your auto insurance?

Happy Hump Day!!! The Texas Department of Insurance oversees the insurance industry. They have on their website,, Consumer Bill of Rights for personal automobile insurance. The article I want to touch on today is #15 Policyholder’s Right to Cancel. It states:

  • You have the right to cancel your policy at any time and receive a refund of the remaining premium. The refund will be paid to you unless your premium was financed through a premium finance company. In that case, the refund will be paid to the premium finance company to reduce the amount you owe on your loan.

I bring this up because I had a consumer come in yesterday for an automobile quote. We worked up a quote for her and she was pleased with the numbers. Her current policy ends soon but she wants to make a change now. She contacted her insurance company and expressed her desire to cancel. She was told that she could not cancel because she was locked into a contract with them and she would have to wait till the policy was up for renewal. Needless to say she was upset. I advised her of what article 15 says and provided the website so she could verify. She is moving forward on cancelling her policy with them.

This is not the first time we have seen this. It seems they are targeting people who have moved here from another country or a minority in this country. Why do they find it necessary to take advantage of these people. They work hard for their money and deserve to be treated fairly. I feel they do this to meet their quota and do not care what is in the best interest of the consumer. I do not want to be taken advantage of so I will not take advantage of a consumer to make a sale. If I cannot do it right I will not do it. I believe in providing as much information as possible so the consumer can make an informed decision. If I am fortunate enough to make the sale great, if not at least I have provided the consumer with information they did not have before walking in the store.

I hope this is helpful. Never be afraid to ask questions. The agent should be happy to answer all your questions. If you ever get an uneasy feeling when talking to an agent, follow your gut feeling. Have a great day and be safe out there.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s