What's the fee for canceling car insurance after two months?
I'm looking for insurance for about 2 months while I borrow a car. What would be the cancellation fee since most policies are 6-12months?
Thanks for the question. Typically, Texas auto plans do not carry a cancellation fee. You will, however, see that any policy fee charged is fully earned. They divide that up into the normal premium payments. For example, if the policy fee is $60 on a 6-month plan and you cancel after two payments you will have paid $20 of the fee and still likely owe them $40. This would be taken from any potential refunds. All policies vary on that fee: some are zero and some can be over a hundred.