Switching Insurance Co.

[wtom]

Hey everyone, I would like to know how I should go about this;

Currently with YFC insurance co. Will use TDMM for new insurance once I get my new car.

Do I continue with YFC until TDMM policy has started?

Or should I be cutting YFC immediately, knowing I will not be going with them when I get a new car?

TIA!

[majic]

i am no insurance guru.. but make sure it is ok to break the terms and that you do not have to pay any extra fees.. i don\'t see why you would have to have insurance now unless you are planning on driving some car.. at the same time would that affect the \'continuous\' coverage?

[bluntman]

I would just continue with YFC until the end for your current policy. After having paid out as much as they did for a new car and then cancelling, it\'s like asking a girl out and then not paying for dinner.

[majic]

Originally posted by bluntman

...it\'s like asking a girl out and then not paying for dinner.

you mean that\'s wrong? :zzz i should pay for my gurl once then.. lol.. :D :D

[wtom]

Continuing with YFC is sure fire way for me to get rejected in the end, no? Current policy with YFC ends early Jan/05.

[bluntman]

But ultimately isn\'t that what you want? The most that they\'ll do is simply give you a nice letter informing you that they won\'t be renewing your policy.

[wtom]

Then will that \"decline\" be considered a rejection? You know when you shop around for new insurance, the first, or one of the first questions they ask you is if you have ever been declined or rejected by an insurance company...

[bluntman]

No, a cancellation occurs in the middle of a term.

[chimp]

most will give you a penalty fee if you stop coverage too soon in your policy. on the other hand i stopped at the end of my policy and toughed out a few months of over priced insurance with my old policy, then got a cheque in the mail for one month of insurace that they charged me twice for which was a sweet surprise.
call your company and ask them what they are goin to charge you for leaving early it might be small fee or it might not.

[wtom]

Thanks, bluntman and chimp, will be TRYING to call my broker AGAIN (for like the fifth time) first thing tomorrow (Monday). She\'s another reason I want to stop doing business with them... damn broker is not to my liking.

[civiclad]

Your insurance may charge you a small fee (not more than one month\'s premium).
I changed insurance companies in the middle of my previous policy.

[wtom]

Thx civiclad, it\'s confirmed, I finally got ahold of my broker and she said since there\'s a little over 2 months left on my coverage (I\'m just a primary driver under my dad\'s policy on my Mazda3 while my dad HAD an Accord) the penalty fee will be about 1 week\'s worth of the premium (ie. for 7 weeks premium I will get back 6 weeks worth).