Do you want to cancel your auto insurance? Are you thinking of selling your car or do you just want to change your insurance company?

Well, the time has come to organize the papers a bit and with that, it is time to cancel your car policy, but do you really know what things you need before ending the contract with your insurer?

How to cancel my auto insurance?

The auto insurance is canceled by a letter addressed to the insurer. The letter must include the date, the policy number, the reason for cancellation, and be signed by the policyholder.

If you contracted your policy through an Insurance Agent, the insurer will ask you to cancel through said Agent.

The insurer will indicate the name and telephone number of your Insurance Agent if they do not have them.

Why do I have to cancel through my Insurance Agent?

the insurer does it to ensure that the client understands the impact of said cancellation; The Agent will facilitate the process and will provide expert help to the contractor to process the cancellation.

When I cancel my auto policy, do I get paid premiums back?

By canceling your auto insurance quotes policy, you are entitled to receive any unearned premiums that have been paid. For example, if you made the annual payment and cancel after six months, you are entitled to receive half of the premiums paid.

Can I cancel all auto insurance?

All car insurance can be canceled, except the mandatory ones, which by law cannot be canceled. The preferred Beneficiary auto insurance must include a cancellation authorization from the preferred beneficiary.

Is there any mandatory auto insurance at the federal level?

Yes, it does exist, it is compulsory insurance for driving on federal highways. This insurance only has Civil Liability coverage for $ 100,000 pesos.

What you should know before canceling your car insurance

The golden rule, in this case, is to be very clear about the terms and conditions that you accepted in the insurance, in this way you will avoid possible obstacles or penalties by the insurance company.

These are the things you need to cancel your car insurance.

Time frames

If your wish is not to renew your car insurance policy, try to notify the insurer at least one month in advance, in this way you will avoid automatic renewal and the collection of the premium.

If, on the contrary, you purchased a new policy, you can cancel the policy at any time.

The type of insurance

Always consider that, by law, mandatory Civil Liability insurance is not cancellable. You can consult the law on compulsory auto insurance on federal highways, where it is established that it is not cancellable.

A written letter stating the intention to cancel your car insurance

Once you have contacted the customer service line of your insurance company, they will indicate the requirements that a car insurance cancellation letter must meet. Usually, the letter should contain:

• Directed to the insurer
• Application date.
• Have the policy number
• Indicate the reason for the cancellation
• Name and form of the contracting insured

Likewise, it must be attached:

• Valid official identification on both sides
• INE or IFE
• Professional license
• Passport
• Passport and FM2 (in case of being a foreigner)

If it is a Moral person, also attach the articles of incorporation or the powers of the legal representative..

Periods of payment of your premium.

In another document, preferably scanned in PDF format, you must add the agreed payment periods for the premium, whether monthly, quarterly, semi-annual or annual.

Proof of address

In some cases and depending on the insurer, you will be asked for proof of residence no longer than 3 months, in this case, a bill for electricity, water, or gas should be enough.

Official identification

Additionally, scanned and preferably in PDF format, you must send an official identification that certifies you as the policy insured.

Additional things to keep in mind

Did you know that if you cancel your auto insurance before your contract ends, you have the right to request a refund of the unearned premium?

Yes, as you are reading it. You can request a refund of the unearned premium. For example, let's put ourselves in the situation where the insured has agreed to pay an annual premium and wants to cancel his auto insurance policy before the contract is up.

In this case, the insured may ask his insurance company to refund the money he did not use. Of course, the insurer will keep a percentage.

If you wish to request the return of the unearned premium, the insurance company will also send you the form for the return of unearned premiums. This form must be filled out correctly, signed, and scanned in PDF format.

This form generally contains the following information:

• Name of Insure.
• Bank account number where the deposit will be made. This account must be in the name of the insured.
• Name of the bank.
• Phone.
• Email.

And that's it! Now that you know the requirements that you must keep in mind when canceling your car insurance, it is time to review each of them in detail so that this process is as comfortable and efficient as possible.