What happens if I cancel my full coverage insurance policy?

If you cancel your full coverage insurance policy, you may no longer be protected if your car gets damaged in an accident, stolen, or if there is severe weather damage. You could be responsible for paying for any repairs or replacements out of pocket. It’s important to consider if you can afford to cover these expenses on your own before canceling your policy. Additionally, if you cancel your insurance policy and then decide you need coverage again, you may have to pay higher rates in the future. Make sure to understand the consequences before making a decision.

Posted by Alyssa DiCrasto

Alyssa uses her many years of experience writing about complex industries to research and create clear content that makes insurance easy to understand. She has been with Rate Retriever since its beginning, establishing our strict editorial policy and directing our comparison experience.

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