Switching Mid-Term

One of the most common misconceptions among consumers is that they are not permitted to switch insurers mid-term. This is not true. Any policyholder may cancel their policy at any time. In fact, if the policy is cancelled mid-term, the prior insurer will likely owe the customer a refund of their unearned premium.

If you do wish to jump ship to another insurer, just make sure you already have coverage in place with the new company. This way you will not be left with a gap in coverage in the event of a loss.

It is also possible to switch from agent to agent and remain with the same insurer. This is fairly rare, but there are some instances where one may want a different agent. Maybe the new agent is a relative. Maybe there was some sort of dispute with the prior agency. In this instance the customer will have to submit what is called a "broker of record letter" indicating that they authorize the new agent to represent them with that insurance carrier. Some carriers, however, have restrictions on when and how an agent may obtain policyholders from each other.

Feel free to contact our agency if you have any questions about switching your insurance coverage.