The cancellation trap that most drivers regret
Are you thinking of switching to a better offer?
Be careful.
Many insurance companies charge a fee for cancelling an insurance policy if you leave before the policy expires.
This is often called “short-term cancellation,” where the insurance company retains a portion of the unused premium as a penalty.
In some cases, you could lose up to 10% of the total value of your insurance policy.
High-risk application fees (SR-22)
If you have violations, you may need SR-22 insurance .
Although the form itself is simple, insurance companies charge a fee for submitting the application and add a huge additional risk premium to your car insurance premium .
But the shocking part is…
Some of the most annoying drawings are the ones you never notice.
Next page: Hidden charges that are quietly added to your bill every month.
