For a student who stays partly at college, and partly at home, he might need cheap car insurance for only a part of the year. For a driver who is borrowing somebody’s car for a short term use, he will need short term car insurance cover for the period he is using it. To find a an insurance company offering a car insurance for less than a year in the U.S. , you will follow these steps.
First, consult an online service or a local agent who compares car insurance quotes to find the quotes for short term car insurance . Depending on the requirements of law, or the kind of coverage you need, select two or more of these quotes; collision, comprehensive, uninsured motorists, etc.
Depending on the insurance quotes identified, select the cheapest short term car insurance company and inquire them about the short rate cancellation cost. This cost is the charges you will bear for cancelation of your car insurance. While a cancellation cost may be more in short term insurance, for example after three months, it will still be more cheaper than paying for cancellation of a long term cover, for example a one year cover. To confirm the cancellation fees, refer to your state insurance regulator, who will give you the rules on the charges and how soon you can cancel an insurance cover.
Sign up for the policy that best fits you and has an acceptable short rate cancellation fee. Some companies require cancellation notifications that are in form of writing, ensure to ask them on the necessary notification in case you need to cancel the policy.
To cancel the policy, notify the short term Car insurance company appropriately. Depending on your premium payment modes and the short rate cancellation fee, you will receive a refund. By this, you will have paid less than an annual insurance policy, hence achieved the goal of a short term Car insurance policy.