Insurance question

Jul 07, 2021 at 01:06 PM CST + 1
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Can I swap insurance companies before mein expire not happy whit my deal

Replied on Wed, Jul 07, 2021 at 02:06 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. absoultely you can

Replied on Wed, Jul 07, 2021 at 02:50 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Absolutely. I have OOIDA it's the best rate I've found. It's easy to add a certificate holder. They do have minimum experience though. I think it's 10 years. I may be wrong about that part.

Replied on Wed, Jul 07, 2021 at 02:50 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Absolutely! The insurance company you switch from will have to reimburse the remaining amount of unused insurance payment as well.

Replied on Thu, Jul 08, 2021 at 08:35 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Make sure both the companies (current and future) are aware of what you are doing. Have the filing in place with the new carrier at a future date (example effective 8/1/21) and then cancel your current coverage effective 8/1/21. This will avoid invoking the 35 day notice an insurance carrier is required to give the FMCA. This isn't car insurance; you can't act on a whim.

Replied on Thu, Jul 08, 2021 at 08:35 AM CST

Posted by a private BulkLoads.com member.

Make sure both the companies (current and future) are aware of what you are doing. Have the filing in place with the new carrier at a future date (example effective 8/1/21) and then cancel your current coverage effective 8/1/21. This will avoid invoking the 35 day notice an insurance carrier is required to give the FMCA. This isn't car insurance; you can't act on a whim.

Replied on Thu, Jul 08, 2021 at 08:43 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "Make sure both the companies (current and future) are aware of what you are doing. Have the filing in place with the new carrier at a future date (example effective 8/1/21) and then cancel your current coverage effective 8/1/21. This will avoid invoking the 35 day notice an insurance carrier is required to give the FMCA. This isn't car insurance; you can't act on a whim. " I was refering to paying 6 months or 12 months in advance as well as not encouraging whim-like behavior. Yes he should keep both companies up to date though!

Replied on Thu, Jul 08, 2021 at 08:43 AM CST

Posted by a private BulkLoads.com member.

Quote: "Make sure both the companies (current and future) are aware of what you are doing. Have the filing in place with the new carrier at a future date (example effective 8/1/21) and then cancel your current coverage effective 8/1/21. This will avoid invoking the 35 day notice an insurance carrier is required to give the FMCA. This isn't car insurance; you can't act on a whim. "

I was refering to paying 6 months or 12 months in advance as well as not encouraging whim-like behavior. Yes he should keep both companies up to date though!

Replied on Thu, Jul 08, 2021 at 11:05 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "I was refering to paying 6 months or 12 months in advance as well as not encouraging whim-like behavior. Yes he should keep both companies up to date though! " You were correct in that the current company owes a prorata return of premium. I wasn't referencing your comment at all - because it was accurate. My point was this is not like your car insurance which is very easy to cancel/rewrite. I have spent 40 years in the insurance business as an agent and my advice was simply meant to be informed advice. I have a background in that profession probably like no other on this board.

Replied on Thu, Jul 08, 2021 at 11:05 AM CST

Posted by a private BulkLoads.com member.

Quote: "I was refering to paying 6 months or 12 months in advance as well as not encouraging whim-like behavior. Yes he should keep both companies up to date though! "

You were correct in that the current company owes a prorata return of premium. I wasn't referencing your comment at all - because it was accurate. My point was this is not like your car insurance which is very easy to cancel/rewrite. I have spent 40 years in the insurance business as an agent and my advice was simply meant to be informed advice. I have a background in that profession probably like no other on this board.

Replied on Thu, Jul 08, 2021 at 01:27 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. I just did this. Like someone started earlier, match up the effective date of the new with the 35 day cancellation date. I paid for an entire month of coverage that I didn’t have to because I was unaware of the 35 day thing. The best rate I found was with great west. Best of luck!