So, finally you’ve studied your insurance choices, shopped around and decided to switch to a new auto insurance company in India. But, don’t just simply walk away! There’s always a proper way to say goodbye to your current insurance company.
- First, Own a New Policy
Before saying goodbye to your current insurer, it is good to ensure that your new insurer has approved your application and you’ve paid your first premium.
- Finalize Starting Date for New Policy
Contact your insurance service provider to set a starting date for your new insurance plan. It is advisable to finalize the day when your current plan expires so that you don’t feel yourself without any protection for a single day. But, do not overlap the coverages of both the insurance companies in India as there is no benefit of doing this.
- Inform Your Current Insurer
If you’ve had a bad experience with your existing insurer, then also notify the company that you’re canceling the plan. If you fail to do this, then they’ll continue to charge you and may be bother you with emails or calls.
- Follow the Procedure
For some insurance companies in India, a single call is a sufficient communicating way when you’re leaving as a customer. But, some insurers may ask you to sign some documents stating that you’re canceling the plan. Just follow the procedure and finish all the necessary formalities.
- Request for a Refund
Sometimes, policyholders wait until their current coverage expires before switching insurer. In case your current insurance has several weeks/months of security remaining, then ask for a refund on your unused premiums.
