Will my down payment be refunded if I cancel my insurance during the first month?

I purchased a policy because I just bought a car and needed coverage. The policy is really expensive and I've found a more affordable option. If I cancel within my first month, will I get a refund? Will they notify my lien holder if I cancel?

You can cancel and switch car insurance providers whenever you choose, even the same month you signed up; there's no minimum time you're required to stay with a carrier.

But before you cancel, reach out to your current carrier to ask about cancellation fees and refund eligibility, since this varies by company. Some charge a fee for canceling early, and there's no guarantee you'll get anything back for the unused portion of your first month. It's also worth asking whether they'll notify your lienholder of the cancellation if your vehicle is financed. You'll want to make sure you don't accidentally have a lapse in coverage on your vehicle.

You might want to consider a few things before you make a final decision, though, like if you have certain features on this policy that you may not be able to get with a different carrier. For example, accident forgiveness or certain discounts aren't universal. Just make sure you're not giving up savings elsewhere for a short-term win. When you're ready, we've got more information about ending your policy. If you decide to shop around again in a few months, our agents are also happy help you look at all your options and to find the best fit.