You can change insurance companies mid policy. Car insurance companies generally allow you to cancel your policy at any time. However, when you do make the switch, make sure that your new insurance coverage will start on or before the day you cancel your current policy, to avoid any coverage gaps.
Generally, no, you don't have to wait for the end of your policy to switch. And generally, yes, you will get a pro-rated refund of any remaining amount that has been paid, but is still considered "unearned" by the insurer.
Call your agent and ask, or call an agent at the company you want to switch to and they should be able to give you a definitive answer.
Most auto and homeowner's insurance companies will refund the "unearned premium", which is basically the proportional amount of your payment to the time left in your term. Your best bet is to call and ask!
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