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When you sell a vehicle with no plans to replace it, you can cancel your auto insurance. However, it is usually a good idea to hold off on discontinuing coverage until the new owner takes ...
Many U.S. states impose versions of those cooling-off period laws, and offer similar laws for an additional range of transactions, such as time share purchases and health club contracts. For example, California provides cooling-off periods for many consumer transactions, including insurance purchases, car warranties, dental services, and weight ...
Cancellation of an insurance policy before the end of the policy period has the effect of ending the insurance coverage on the date of the cancellation. This can result in a partial return premium which can be calculated in different ways depending on the method specified in the policy.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Coming to a mutual agreement: In some cases, simply asking the buyer to cancel the contract may work. If the seller doesn’t have cause, the buyer is not required to agree, but it doesn’t hurt ...
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