Whether it is needed or not, we are very easy to get stuck in insurance. Especially with various kinds that actually help including home insurance. But if we don’t need it, we certainly think about how to cancel home insurance. There are some reasons that you can use when you want to end the insurance itself. It can be because of you want to move to the new home or you find the other cheaper insurance. Well, if these are your purpose, here are some steps you should do to cancel it.
Make Sure that the Policy is Active
Before discussing the steps, we need to pay attention to several things. Make sure that the policy is active becomes an essential in understanding how to cancel home insurance. It is because when there are differences from two parties, this will be dangerous for you. You could be considered violating the previous agreement. Even the worst is you will potentially lose. Therefore, checking whether it’s active or not is a must before submit cancelation.
Contact the Agent
Then it comes to contact the insurance agent you use. Tell him that you are planning to cancel the policy. Calling them becomes the first way you can try how to cancel home insurance. Then there will be some information about what you should prepare including fees. Of course, you need to be ready if the agent requires fee in applying cancellation. But usually it will ask for a written notice of cancellation.
Write a Cancellation Letter
In line with the previous step, you need to write a cancellation letter. There are some things you will need such as telephone and fax machine. But in writing, you can include the common information about yourself like name, property address, policy number, as well as the cancellation date you want. Not only that, you should also request a refund from each principal you have paid. Then what you should do is fax the letter itself to the agent. Once you have sent it, you can make a call to confirm the cancellation. One thing you should remember is to save a copy of it.
Wait until It Expires
Besides writing a cancellation letter, there is still another step how to cancel home insurance. You might be wondering what is the solution to cancel home insurance without fee. Yeah, it’s very common because not all people want to spend more money for cancellation. According to this, there is a trick how to do it without fee which is wait until the policy expires. This is the easiest way you can do without risk.
First thing you should do is write down the policy renewal date. When the time comes, the insurance provider will notify you about the renewal of your policy. You should know that the policy fee will be higher when it’s closer to the renewal date. Therefore, you should prepare well in implementing the new policy before it ends. After that, you will be able to choose the date for the new policy.