Cancellation Period for Automotive Insurance Policies Wisconsin, WI
Reader’s Question:
When can an auto insurance company here in Wisconsin cancel an automotive insurance policy?
Sharon
Milwaukee, WI
Auto insurance companies normally cancel new policies within sixty days upon the signing of the contract. They may give you the reason for the cancellation if you request for it; however, it is not a compulsory action for them. A cancellation is also possible, even after the sixty-day period, if you do not pay the premiums when they are due. Also, your auto insurance policy may be cancelled if you are found guilty of a fraudulent claim. If the auto insurance company cancels your policy for the said reasons, you will be given a ten-day notice before the cancellation takes effect. This notice will come in the form of a mail.
If you are renewing your auto insurance policy, you may also face the possibility of nonrenewal. Auto insurance companies use varying measures in evaluating auto insurance policies. If the insurance company decides not to renew your policy, it should send you a notice, detailing the reasons for the nonrenewal, sixty days before your policy expires. This should give you enough time to find another auto insurance company who would accept your auto insurance application.
If you cannot find an auto insurance company who would want to give you coverage for your vehicle, you could still be insured by getting the Wisconsin Automobile Insurance Plan. Contact any licensed property and casualty insurance agent to know more about this.
Tags: auto insurance, auto insurance policy, auto insurance premium, Car Insurance Company