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So, you need to cancel your policy with Liberty Mutual. It should be pretty straightforward, right? Well, there are a few things to consider before you do that, and it can get confusing quickly. Fortunately, we have you covered. We have compiled a list of items you should review before canceling, complete with a checklist to ensure you haven’t missed anything before you pick up that phone.
The first item you should consider is whether you have another policy to replace the one you’re canceling. This is important because you want to avoid having any lapses in coverage. Many insurance companies base your price and eligibility on whether you have had gaps in insurance. So, to avoid paying more money the next time you switch companies, you should purchase another policy before canceling your current one. You should also make sure the new policy starts on the day you cancel the current one. However, there may be situations where you don’t have a new policy set up. Some examples are as follows.
Perhaps you have sold your car, or it was recently totaled in an accident. It would make sense that you don’t need insurance if you don’t have a car. But that’s not necessarily the case. Remember that a lapse in coverage could affect your eligibility and pricing for future policies. If you plan on getting a new car within the next month or so, it may be worth keeping your current policy active to avoid a coverage gap. Another benefit to keeping the policy is that you won’t have to come up with a new down payment for a new policy when you do get a car!
If you still own your car and are not driving, you may not think you need to keep your car insured. But there are some good reasons to. First, your car can still be damaged when it’s not being used. For example, it can be stolen or damaged by hail or fire. Keeping your car insured means you may still have coverage for these events. Secondly, just because you’re not driving the car doesn’t necessarily mean someone else isn’t going to. Who has access to your car? Suppose you are going away to school and leaving your car at home. You should consider who else may use your vehicle while you’re not there. For example, if the car needs to be moved from its location or possibly used in an emergency. In either of these cases, you will want to ensure the car remains insured. Lastly, many states will require you to keep insurance on a vehicle that is actively registered. If not, you could be penalized with fines or license suspensions. If you are truly not going to be using your car and are sure that no one else will be either, your best option is to cancel the registration as well.
Moving out of state may not be a reason to cancel your Liberty Mutual policy! Luckily, Liberty writes in all states. Rather than cancel your policy altogether, you can rewrite it in whichever state you are moving to. In most cases, you will need to set up insurance before you can register a car in your new state. By keeping your current policy, you are eliminating an extra step. Also, you will want active insurance if you are still driving. In the event you are having your car transported, carrying comprehensive coverage will help protect your vehicle if it’s damaged by things like flood, fire, theft, or vandalism.
Ok, so you are ready to cancel your Liberty Mutual policy. While it may be as simple as making a phone call, you should prepare by doing the following:
- Have your current Liberty Mutual policy number handy
- Notify any other drivers or policy co-owners that you are canceling, especially if they won’t be on the new policy with you
- If you aren’t the owner of the policy, be sure they are available for the call.
- Confirm if there are any penalties for canceling your policy early
Canceling your policy with Liberty Mutual is a straightforward process. Give them a call at 1-800-290-8711 and press 3 for policy changes. You will then be asked the type of change you are looking to make. If you state you are looking to cancel your policy, you will be prompted to select from the following options:
- Press “1” for concerns about price
- Press “2” if you have been getting quotes from other companies
- Press “3” if you don’t need your policy any more
- Press “4” if you have already purchased a new policy
Depending on your choice, you will be routed to the appropriate representative for handling. You may be asked why you are canceling, and the company may try to retain you as a customer. Utilize our checklist below to confirm you have considered all options and have prepared for this call.
▢ I have obtained a new insurance policy to replace this current policy. If not, select the reason why:
▢ I no longer own a car.
▢ I do not plan on getting a new car within the next 30 days
▢ I am no longer driving.
▢ I have returned the license plates and canceled the vehicle registration
▢ I am moving out of state
▢ My new policy starts on the same day or before the cancellation date of this policy.
▢ My current policy is up for renewal, and I will be canceling as of that renewal date
▢ If not, I have confirmed the penalties, if any, that I will incur for canceling midterm
▢ I have my new policy information to provide to my current carrier.
▢ I have my current Liberty Mutual policy number to provide to my agent or customer service representative.
▢ I am the owner or an authorized representative of the policy I am looking to cancel.
▢ I have informed the other drivers or co-owners of this policy that I am canceling.
Q: Is there a cancellation fee for canceling my policy early?
A: Whether a penalty is charged for canceling your policy before the renewal date depends on where you live. To be sure, speak to your Liberty Mutual agent or a licensed representative about what fees if any, are charged for canceling your policy early.
Q: Do I need to sign anything to cancel my policy?
A: Your policy can be canceled without your signature. However, there may be exceptions depending on the circumstances. If you prefer to cancel in writing, you may mail your request to a local Liberty Mutual agent. Include your name, current policy number, and date of cancellation.
Q: Can I cancel my Liberty Mutual policy online?
A: Not at this time. To cancel your Liberty Mutual policy, you need to call them directly at 1-800-290-8711 or submit a request in writing to a local Liberty Mutual office.