Provide the customer care representative with necessary information such as the effective cancellation date and the new carrier’s name you are switching to if that is the case. Don’t hesitate to find out if you can be refunded for any premiums paid in advance.

Reasons You Should Consider Having Another Policy Before Canceling 

Notice that when you cancel your auto insurance policy, they will ask you if you are switching to another carrier and ask you to provide details on them.

It is advisable to have another policy you are switching to, and it should be effective on the cancellation date of your current policy. The reason why this is necessary is that driving without insurance is illegal.

Depending on state laws where you reside, you may experience the following:

1. Fines on

2. An issue with renewing vehicle registration

3. Your license may be suspended

4. In extreme cases, you may face jail time

5. All these and more are reasons always to cancel your policy properly.

Progressive Auto Insurance – Review

Cost

According to a study conducted by Value Penguin, Progressive’s auto insurance rates are near competitor’s average. This means that compared with other options in the market, they are fairly priced.

However, they discovered that Progressive offers the best rates for drivers with past accidents. However, young drivers rated Progressive rates among the least affordable.

Progressive also provides a standard set of discounts to make its policies more affordable for customers.

Some of these discounts include: 

1. Start your quote online – begin the quote process online and purchase your policy via phone

2. Safe driver – three years without an accident or ticket

3. Multicar – insuring multiple cars with Progressive

4. Homeowner – owning a home even if it isn’t insured by Progressive

5. Continuous insurance – Maintain car insurance coverage without any gaps or cancellations

6. Pay in full – pay the total cost for your policy upfront, not monthly

7. Sign documents online – sign your documents online when you purchase a policy

Coverage

Progressive offers coverage for all the regular perils you experience in a car, such as collision and liability. In addition to this, they have some other unique coverages that we will share below.

Pet Injury – Imagine your beloved pet is injured in a car accident. Wouldn’t it be nice if insurance covered the cost? Progressive’s pet injury coverage will take care of any medical bills associated with your pet’s accident.

The coverage falls under your collision coverage, and though you may have pet insurance, it may be cheaper to file a claim from your auto insurance company where possible.

Custom Parts And Equipment Value – Some folks love to pimp their rides. Progressive provides an avenue where customers who love customizing their vehicles can do so without fear of being at a loss should anything happen to their car.

Gap Insurance – Gap insurance is a great investment for anyone who has recently purchased a car and is yet to complete payment for it. Should anything happen to this vehicle before repayment is complete, Progressive will step in to fill the gap on your payment.

Rental Reimbursement – Being completely immobile after an accident can be difficult. Should you decide to rent a vehicle when your car is unavailable, this coverage reimburses you for the amount spent on renting a vehicle.

Customer Satisfaction

Progressive customer service is available 24 hours round the clock. They pride themselves in being attentive customers seven days a week, all year round.

In 2020 they were awarded a 0.68 complaint score by the National Association of Insurance Commission (NAIC). This is a relatively good score as it is below the average complaint score of 1.0. This would mean that customers are satisfied with the service they get to a large extent.

Frequently Asked Questions

How Do I Cancel My Progressive Insurance Policy?
You can cancel your policy via phone call. Simply contact a customer care representative at 1-866-416-2003, and after providing them with the necessary information, your policy will be canceled. Don’t feel shy to inquire about refunds on advanced premium payments.

Does Progressive Charge A Cancellation Fee?
Yes, they do. If you cancel your policy within its first term, they will charge you a cancellation fee of $50. However, if your policy has been renewed and you wish to cancel it, the cancellation fee is no longer applicable.

Can I Cancel My Policy At Any Time?
Most insurance policies will allow you to cancel your policy at any time. All that is required is to inform them that you wish to have them cancel your policy. Usually, it is best to write a notice with the effective cancellation date. And we recommend letting your insurer know when you switch to a new carrier.

Does Cancelling My Insurance Affect My Credit?
Cancelling your insurance policy will not affect your credit score as long as you do it properly. For example, if you pay for your insurance annually, there’s no effect on your credit score. However, if you pay for it every month, there will be some effect.

It is advisable to call your insurer and inform them that you want your policy cancelled instead of stopping your direct debit without prior notice.

Conclusion

Like most insurance companies, Progressive does not allow you to cancel your policy online. Rather, they provided an avenue for you to do so over the phone. In our belief, this is an equally convenient way to manage your policy as it does not require you to physically travel to a nearby branch.

Sources

Progressive Auto Insurance Review

Progressive Insurance Review – Investopedia

How to Cancel Progressive Auto Insurance

The post How to Cancel Progressive Insurance Online-A Step-by-Step Guide appeared first on Insurance BlogX.

If your parents are also listed as owners on the car’s title, you can have your car insured under their policy. 

Unfortunately, car insurance rates for younger folks in on the high side. It doesn’t help that in this stage of life, you will be battling with low paying jobs and other responsibilities (mostly school-related)

Because of this, many youths will opt for insuring their vehicles under their parent’s policy. Some parents may offer to buy a new policy for their children and handle the premiums themselves.

As we mentioned earlier, if you are the only owner listed on the vehicle’s title, you have no choice other than to purchase a separate policy for yourself.

On the surface, it looks like a more expensive route, but in the future, it may turn out to be more cost-effective to maintain a separate policy from your parents.

There is also no rule prohibiting your parents from handling your insurance premiums because you are on a separate auto insurance policy.

Why Who Is Listed On The Title Matters

We assume there might be some confusion on why insurance companies are concerned with who is listed on the title of a car.

The concept of insurance is to indemnify the owner of a property in an unforeseen circumstance—for example, car theft, burglary, and fire outbreak.

We deduced that you could not insure something you do not own from the concept. In the case of auto insurance, if your car is involved in an accident, the insurance company will make payment to the owner of the car.

In a situation where the policyholder (your parents) is not the owner of the vehicle, the insurance company maintains the right to withhold payment. However, if your parents are listed on the car’s title, they become legal owners of the vehicle.

The reality of the matter is that only the property owner suffers a loss on it. If your parents are not listed as owners on the car’s title, the insurance company cannot pay them for a loss that is not theirs.

When Is It Necessary To Buy A Separate Insurance Policy

There is a high chance that your first car will be a gift from your parents, and they will be the listed owners on the title.

If you are still living with your parents, you don’t need to buy a separate policy. Instead, have your name added to their auto insurance policy, and you are good to go.

A general rule in insurance is that multiple drivers of a vehicle related to the policyholder and living together can fall under a single insurance policy.

However, this is only applicable when your parents are listed as owners of the car’s title. If they aren’t, you have to purchase a separate policy regardless of whether you live with them or not.

Remember, the insurance company can only make payments to parties with legal interest on a property, aka the owner.

We would advise you to explore your options by getting quotes from companies outside of your parent’s use.

Getting Car Insurance While In College/ University

Earlier, we pointed out that multiple drivers living together and related to the policyholder could share a single insurance policy. What happens when you live on campus?

It is possible to remain covered by your parent’s insurance policy even when you are away at college.

First, make sure that your permanent address is the same as your parents, and lastly, ensure they are listed as owners on the title of the car. These requirements align with the general rule that allows multiple drivers to share a policy.

Some companies offer a discount to students who do not take their cars to school. However, we should point out that you are expected to observe good driving practices during this period.

A bad driving record could cause the cost of maintaining the policy to skyrocket regardless of who owns the policy and driving the vehicle.

We must mention that the information on the vehicle registration should tally with what is on the vehicle insurance documents.

How Long Can I Stay On My Parent’s Policy?

It is natural to wonder if you can remain on your parent’s insurance policy once you are fully regarded as an adult.

Medical insurance policies have an age limit and require children to purchase a separate policy once they reach a certain age. However, this is not the case with auto insurance policies.

The restrictions on car insurance policies are concerned with who owns the car and where you live, not how old you are.

Your main concern should be determining whether there is any benefit to remaining on your parent’s policy- is it cheaper than maintaining a separate policy?

Auto-Insurance Rates For Young Drivers

Insurance rates for younger drivers are higher than that of older drivers. The reason for this is simple.

Younger and newer drivers are viewed as high risk by insurance companies; it doesn’t matter that you have a clean driving record at this point.

However, maintaining a good record well into adulthood will impact your insurance costs for the better as you get older.

The general benchmark age for auto-insurance rates to decrease is age 25. Your insurance company may begin to review your policy based on driving history by this time.

Conclusion

Whether you can insure a car under your parent’s policy is dependent on whether they are listed as an owner of the vehicle or not, and there are no age limitations on how long you can remain on their policy.

Even as a college student living on campus, it is possible to enjoy car insurance under your parent’s policy, and you may even enjoy some financial benefit for leaving the car at home instead of taking it with you to campus.

Getting a separate policy and joining your parent’s policy should depend on what option is cheaper.

The post Can I Have A Car In My Name Under My Parent’s Insurance? appeared first on Insurance BlogX.

If, after inspection, the car is in a good state, there is no need to file a claim. The general rule with insurance is to skip the claim lineup if the issue can easily be resolved out of pocket. However, this is not a go-ahead to keep the accident hidden from your insurer. 

If you are involved in an accident, whether serious or minor, whether you are at fault or not, always inform your insurer. Filing a claim or not is dependent on the nature of the accident.

Imagine that the damage done to your bumper is $200, and there is a deductible of $500 on your insurance policy. If you file a claim with your insurer, you would have to pay for your car repair out of pocket.

Now imagine that the repair on your car is $300, and there is a $200 deductible on your car policy; after paying your deductible, your insurer will only pay out $100.

Both instances paint a picture where involving your insurer is not necessary since you will not enjoy the full benefit of your insurance.

There are two instances that will always require the involvement of your insurer, and that is:

1. When other drivers are involved

2. When serious damage or injuries are involved

Notify your insurance provider of any accident that involves other parties, even when it is minor or caused by someone else. It is risky to attempt to settle any issues without their involvement.

The first risk is that the other party could sue for damages in the future even when they have been settled. Without proper documentation, there is no way to prove that the issue had been initially resolved.

Your insurance company is experienced in dealing with such matters, and they are in the best position to protect you from lawsuits.

Another instance that requires your insurance company’s involvement is when there is serious damage to property or injury.

Here’s a summary of everything we said:

Medical expenses can put a dent in the wallet of even the richest man; after all, the more money they have available, the higher the quality of health care.

Earlier we gave two instances where you may consider filing a claim on your insurance policy, notice these two instances have something in common – the accident involves only you.

Most accidents that don’t involve a third party don’t need to be filed for. For instance, you were trying to back out of your garage and hit your rear bumper against the garage door, or maybe you scratched the side of your vehicle against something.

These are minor incidences that don’t pose a threat to anyone; filing a claim for such cases is unnecessary, especially since the cost of repairing them may not set you back financially.

Another time you may want to skip filing a claim is if you risk having your insurance rate increased. Many factors are used to determine whether your rate will be increased or not after filing a claim; some of these factors include previous claim history, company regulations, etc.

The most reliable way to determine if this will affect you is to request the company surcharge schedule or speak with an agent. Note that insurance companies, like most businesses, record their interactions with their customers. So, they will take note of your request.

We’d say the most important tip for filing a claim is to understand what you are entitled to at all times, and to do this, you should know what your policy covers.

The second is to speak with your agent in times of confusion; they are in the best position to guide you on what decision to make. And finally, always file your claim promptly.

The best time to file a claim is when you cannot afford to cover the damages yourself. Usually, this is the case when you cause serious damage to other people’s property or have injured the cause you.

Chances are they might sue, or their medical expenses could set you back by thousands of dollars. It’s best to let your insurer handle this.

Filing a claim from your insurer is not always necessary, especially when you stand to lose more than gain. For example, mishaps that don’t result in serious damage to your property or that of a third party don’t need to be filed for. The same goes for accidents that don’t involve medical expenses.

The general rule is to always file a claim for accidents that involve damage to third parties and serious damage to yourself.

If the accident involves only you and it is minor, meaning you can comfortably afford to cover the costs yourself, then you skip filing a claim.

Sources

When to File a Car Insurance Claim – and When Not to

Should I Call My Insurance if a Car Accident was not my Fault

Tips for Filing an Insurance Claim

The post Somebody Hit My Rear Bumper, But There’s No Visible Damage, Should I File A Claim With Insurance? appeared first on Insurance BlogX.