Can I either get a refund or credit applied towards a new policy if I cancel my current insurance?

Here are the specific details: I paid the premium from my current vehicle in whole, which is 6 months. Now, It's only been about 2 months into the coverage but I am considering changing cars (buying a new one). IF I were to sell this car and get a new one, can I get the balance of what I paid into the policy back? By the way, I have nationwide. i know I could ask them but it's midnight and i am too lazy to call so ill hassle you folks.Can I either get a refund or credit applied towards a new policy if I cancel my current insurance?usually the insurance policy is transferred from one car to anouther - so I guess a credit like you say. You will pay any extra or they will refund any difference
Can I either get a refund or credit applied towards a new policy if I cancel my current insurance?
Yup, you sure do. It's your money. You prepay the insurance policy in advance, but you only get charged for the number of days you have used so far. They send you a refund check for what you haven't used.



The same thing will happen if you prepay any utility bill. If you send the power company $200, use $55 worth of electricity then cancel service, they will send you a check for $145.



Now, if you're just changing cars and want to keep the policy, they can do that. You don't need to end your policy unless you want to switch insurance companies.



It will take a few weeks for the refund check to show up. Don't go making plans for that money until you have it in hand :)
Can I either get a refund or credit applied towards a new policy if I cancel my current insurance?
Insurance does not do refunds, it merely transfers.
If you sold your car and added the new one, it's called a %26quot;subsitution%26quot;.



If you keep the same coverages and the new car doesn't take a higher %26quot;rating symbol%26quot; on comp and collision, then there would be no premium due; however, if the new car takes a higher symbol, then you would owe a pro-rated additional premium.
By law an insurance company has to return %26quot;unearned premium%26quot; which is money you have paid in advance for coverage you haven't used yet. If you're staying with the same insurer, the balance will apply to the new vehicle coverage.