Would I need to sign up for a different car insurance before canceling my existing insurance policy?

Taking an auto insurance plan as and when you buy a car is inevitable if you’re living in the US because driving without insurance is as good as venturing out without a valid license. But soon after taking car insurance, you may start comparing the benefits that your policy offers with what other plans do. At some stage, you may contemplate to switch to a new provider, not mainly because your existing insurance is bad, but primarily owing to the fact that the new insurance plan has a lot more to offer to you, both in terms of cost and coverage. This means you’ll simply hurry up to cancel your present policy in favor of the new one that you’ve kept your eyes on. However, before you go to cancel your existing car insurance you certainly need to ascertain that your new policy is going to take effect from the day the old one gets canceled. By doing so, you are guaranteed that there will be no lapse of coverage even for a day. After all, no one can predict when you’re going to get involved in an accident. And you may have to pay a very heavy price if you remain uninsured in such a situation. Another significant aspect that you need to bear in mind is that when you go to buy a new auto insurance policy after canceling your existing plan, you’re very likely to be quoted a higher premium.

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