Reader’s Question:

What happens if I don’t inform my auto insurance company that I am cancelling my policy with them? I don’t want to deal with them anymore since they raised my premiums after my DWI arrest here in Toms River, New Jersey.

Jalon

Toms River, NJ

There are two significant things that you have to know if you do not inform your auto insurance company of your decision to terminate your policy after they increased your rate when you were arrested for DWI in Toms River, New Jersey, even if it is at the end of your policy period. The first thing is that the auto insurance company would send you a bill for your next premium payment. Second is that when they don’t hear from you, the auto insurance company would formally cancel your policy because you failed to pay your premiums on time - and that will go on your credit report.

If your auto insurance policy would be cancelled, it could haunt your insurance future. Cancellation would be a red flag for insurance companies looking at prospective customers. If an insurance company sees on your claims history that you have recently been cancelled, even if your credit rating is good, that could be the basis for denying your coverage or charging you a steep rate as a risky applicant. So make sure that you cancel your policy properly by informing your insurer and I am sure that you are looking for an auto insurance company now that would give you coverage so try to get an online rate quote available from this website.

Tags: auto insurance, DWI, DWI arrest