Non payment cancellation
Long story short, I got auto insurance about two months ago. I missed submitting a required document, which caused my premium to triple. After I submitted the document, the insurer said they would see if they could restore my original rate, but later told me they couldn’t. By then, I was already past the 45-day window to cancel without a penalty.
An insurance agent suggested that instead of canceling, I stop making payments, let the policy cancel for nonpayment, and then either rewrite a policy with the same company or get a new policy before the cancellation becomes effective.
Has anyone heard of this method or had experience with it? My biggest concern is avoiding a lapse on my driving record. This all happened because of a simple mistake, some miscommunication, and a hectic work schedule.