But I paid for 6 months...

If you are shopping around for insurance or have been approached with a better policy and with a lower premium, many people find themselves thinking they are in a contract with their current carrier.  What many people I run into do not know, is that you can cancel your current policy whenever you want with no repercussion, you can even get all of your unused premium back.

I wanted to quickly share some information about policies and what happens when you pay for your annual or 6 month policy all at once. Signing your agreement with your insurance company isn't a binding contract that holds you in until the expiration date. It can be cancelled at anytime per your request. A lot of people don't realize that when you decide to cancel a policy, even if you pay monthly, your prorated unused premium will be refunded to you. A ton of customers feel like they are trapped in a policy and can't start saving money on a new policy because they already paid for their policy upfront. Everyone should be aware that if you are not happy with your policy and are searching and find a better policy, you can switch at any time! If you call into your agent and tell him or her you are canceling, chances are it will get done fairly quickly and jump start the process of returning your premium to you. Most companies can get this done relatively quick and before you know it you could be with your new carrier and better policy and have nothing to worry about.

Just a short piece of information for all customers to be aware that they do have options and can always make a change, should the right opportunity present itself! Post some comments and questions below so I can know what you guys need answered!