As the title says my car was totaled a couple weeks ago and I have another payment coming up for it in a few days. Since then I've bought another car in cash and am currently insured through a different insurance company than the car that was totaled. I am waiting on the payoff for the totaled car and just received and signed the documents to sign the title off to the insurance company and I am going to return the signed documents to the company today via FedEx; can I cancel the policy for the totaled car today? Or do I have to wait until my insurance company receives/processes the title transfer from my lender? If it makes a difference I'm insured in the state of Nevada and I was covered at the time of the accident.
Car was totaled and next policy payment comes up in a few days.
byu/lizzantonio inInsurance
Posted by lizzantonio
2 Comments
You can cancel your policy now. It doesnt matter if they havent completely settled your total loss yet. I would call and cancel, you dont want to pay for another month and then wait for them to refund it back to you
As long as a policy is in force at the time a loss happens the loss can be claimed.