Yes. Elephant car insurance automatically renews every 12 months. One month before your renewal date, Elephant sends you updated renewal documents and billing information by email, or mail if you prefer. The documents include a summary declaration page, a new proof-of-insurance card, and a policy packet with finer details of your coverage. Your policy then renews at 12:01 a.m. on the automatic renewal date, and your billing schedule continues as it did before the renewal.
Elephant also sends a reminder soon before the automated payment goes into effect. You can change your payment method before the renewal by visiting your account page.
Your insurance-renewal rate increase should be nominal if you have a clean driving record. But it’s still good practice to speak with a company representative about potential upcoming coverage and premium changes before renewal. This will allow you to policy-shop if you’re unhappy with the upcoming changes. You can also cancel your Elephant insurance at any time before your automatic renewal date.
Typically you can cancel your auto insurance by writing your auto insurance carrier a letter with the following information: Your Full Name, Your signature, Your Auto Policy Number, the autos invovled, and the date of cancellation.
As to "can you" it depends. Usually you can cancel it mid term. … read full answer
However your state may require you to keep auto insurance. Also your the loan or lease company may require it.
Even if you do not own a vehicle there are reasons to keep auto insurance.
The process of requesting a refund on your car insurance differs from company to company. Some car insurance companies will allow you to cancel your policy and request a refund over the phone. But there are some insurers, such as The General, who will ask for a written notice of cancellation before a refund can be initiated. Call your insurance company’s customer service hotline or speak to your local agent to confirm the details of its refund policy. … read full answer
Generally speaking, if you’ve already paid the premium for the entire policy term, most insurance companies will refund any unused portion. Keep in mind that some car insurance companies will charge a cancellation fee, usually a set percentage of your premium.
There are many reasons your car insurance can go up. If your auto insurance premium went up at renewal time, it may be because you caused an accident, earned a ticket, switched cars, added a teenage driver to your policy or increased your coverage. Even moving a short distance or paying a few credit card bills late can raise your car insurance cost. Your rate may also have been affected by widespread changes beyond your control—in economics, weather, crime and accident statistics, vehicle technology, new laws, medical costs, or your insurer’s profit margin.… read full answer
Top 10 Reasons Your Car Insurance Can Go Up:
1. You increased your riskiness, in the eyes of your insurance company
This happens when you cause an accident, get a ticket for a moving violation, or add a riskier driver like a teenager to your policy.
2. You increased your coverage
Maybe you realized you didn’t have enough protection for your peace of mind, in case of an accident. Higher limits or lower deductibles equal higher premiums.
3. You changed cars
Perhaps you traded an older model for a newer one that raised your rate for collision and comprehensive insurance. Rates will also rise if you trade a safe, practical vehicle for something more expensive, faster, or with special modifications.
4. You moved
If you move into a zone with more population density, a higher theft rate or more insurance claims, your rates can rise. Moving a few blocks can cost as much as 64%, according to some studies. Moving from a small town to a metropolitan area can cost much more—from 300% to 800%.
5. Your credit score fell
Most insurers use credit history in setting rates. If your rating falls from excellent to poor, your premium could as much as double in some states.
6. The economy is stronger
This is a good thing except when it comes to insurance costs. More people working means more drivers on the road, going more places. This raises risk and rates across the country.
7. Medical costs are rising
From 2012 to 2017, bodily injury liability claims increased in cost by 10% per year.
8. Repair costs are rising
Prices for motor vehicle repairs were 61% higher in 2017 than they were in 2000, according to the U.S. Bureau of Labor Statistics. New safety features, with their many sensors and computer chips, are expensive to fix.
9. Cell phones are distracting
At least nine Americans die and 100 are injured in distracted driving crashes every day, according to the National Safety Council. And 1 in 4 car accidents in the U.S. is now caused by texting and driving. Accident rates due to distracted driving are increasing year by year.
10. Marijuana is being legalized in more states
Accidents rose up to 6% in states with legalized recreational marijuana between 2012 and 2017, compared to neighboring states where it remained illegal, according to the Insurance Institute for Highway Safety.
Many of these issues affect your rates because they affect the bottom line of your insurance company. When your insurer isn’t making enough money to cover the cost of claims, they have to raise prices. However, the effects aren’t equal on all insurers. If your car insurance has gone up, it’s important to comparison shop for a company that can offer you the lowest rates.
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