How to Cancel Your Liberty Mutual Auto Insurance Policy
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Are you thinking about canceling your Liberty Mutual car insurance policy? Whether you’re still on the fence about canceling, you’ve made up your mind or it’s just a thought in the back of your head, this guide will help.
Below we’ve outlined what to consider when canceling your policy, reasons to move on and how to find the best deal possible from any insurance company.
Steps to Cancel Liberty Mutual Insurance
Because Liberty Mutual offers insurance in different states, the specific process for canceling your insurance will depend on where you live.
To get started, be prepared with your insurance policy number. You need to be the policyholder to cancel the insurance. If you already have a new insurance policy, you should also have those details ready.
Liberty Mutual processes insurance cancellations by phone. You can reach customer service at 1-800-290-8711.
Liberty Mutual Cancellation Policy
Liberty Mutual offers 12-month policies, but you can cancel yours at any time. Depending on where you live, you may need to pay a cancellation fee if you choose to end your policy before it expires. You will also receive a refund for any payments made for months that weren’t used.
What to Consider When Canceling Your Policy
Before you cancel your car insurance policy, make sure it’s the right decision for you. Considering the following factors can help you determine whether you should cancel your policy.
Can You Get a Lower Rate with Liberty Mutual?
If you are considering canceling your insurance because of rising premiums but are otherwise happy with Liberty Mutual, then you might be able to avoid canceling the policy. Instead, give Liberty Mutual a call to see if you can score lower rates.
In order to strengthen your argument, consider shopping around and getting quotes from other insurance companies before you call Liberty Mutual. This is easy with Compare.com since you can use our auto insurance comparison calculator and receive personalized quotes from some of the top insurance companies.
With quotes reflecting lower prices for the same policy and coverage, you can approach Liberty Mutual and explain you’re a current customer considering canceling your policy to save money.
Alternatively, you can ask if you qualify for any discounts that could help lower your insurance premiums. A customer service representative may be aware of deals you aren’t currently receiving. Adding these discounts could reduce your costs and make it worth staying with Liberty Mutual.
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Avoid Insurance Gaps
One of the most important parts about changing insurance policies is to ensure you don’t have a lapse in coverage. The best way to do that is to schedule your Liberty Mutual cancellation date for a couple of days after your new policy activates. Otherwise, if your Liberty Mutual plan cancels before you have a new one, you’ll be uninsured and unable to drive legally.
Car insurance companies also qualify you as a high-risk driver if you have a lapse in coverage, even briefly. When you apply for a new insurance policy, you may face higher premiums because of that lapse.
Consider Your Policy Renewal Date
Since Liberty Mutual sometimes charges cancellation fees if you cancel your insurance before the end of your 12-month policy, it may pay off to strategically cancel your insurance only at the end of your policy. To determine when your policy ends, log into your account online or call Liberty Mutual customer service.
Depending on the cancellation fee and how close you are to the end of your policy, it may pay off to wait a little longer to cancel your insurance.
Determine Why You’re Leaving
As you cancel your Liberty Mutual policy, consider your reasons. The customer service representative will likely ask you why you’re leaving, and sharing this information with Liberty Mutual can help the company to improve.
But understanding your reasons for leaving can also benefit you. When you identify precisely what isn’t working for you at Liberty Mutual, you will be better prepared to seek out another car insurance provider that solves those issues.
For example, you might be looking for a specific type of coverage that Liberty Mutual does not offer, or you may be unhappy with the customer service. Clearly defining these issues and the solution you’re looking for can help you find a new company you’re happy with.
Shop Around Before Canceling Your Policy
Next, it’s time to shop around for your car insurance. Using a service like Compare.com can save you time, allowing you to quickly gather quotes from multiple companies while just filling out one quote request form.
As you compare the quotes, think about more than just the pricing. Look for a company with the qualities you want such as a smooth claims process or excellent customer service. If you are thinking of changing your coverage, consider the specific type of coverage you need and make sure that the company offers it.
Reasons Why You May Want to Cancel Your Liberty Mutual Insurance Policy
There are many reasons why you might consider canceling your car insurance. Here are a few community scenarios.
If you’re relocating out of state, you might find that your current insurance coverage isn’t available in your new location or is significantly more expensive. Car insurance rates and policy availability vary by state, so if you’re planning on moving, check with Liberty Mutual ahead of time to verify you’ll have coverage in your new location.
You Had a Poor Customer Experience
Many drivers change car insurance companies after a poor experience with their insurer’s customer service or claims process. If this is why you plan to switch companies, then take the time to read customer reviews of the new company you are considering. Make sure those reviews reference positive customer service and claim experiences.
Your Rates Increased
A recent premium increase might have you looking elsewhere for a better deal. Every car insurance company calculates its premiums differently, so you could save money by choosing a different insurance provider.
You Sell Your Vehicle
If you’ve sold, you will need to cancel your insurance policy, so you don’t continue paying for it. You may need to prove that you have canceled the vehicle’s registration before canceling your insurance.
You Want to Bundle Your Policies
If you have a homeowner’s or renter’s insurance policy with another insurance company, then insuring your vehicle through that same company could help you save additional money. Bundling your policies will often get you a discount, helping you to save money.
How to Get the Best Deal on Car Insurance
As you shop for car insurance, you can take multiple steps to ensure you get the best deal on your new policy.
Look for Discounts
Insurance companies offer a wide variety of discounts that can help you to save money. As you research different car insurance providers, think about which discounts you would be eligible to receive from each company.
Some common discounts include:
- Multi-policy discount
- Paperless billing discount
- Multi-vehicle discount
- Good student discount
- Safety equipment discount
- Defensive driving course
Choose Your Policy Limits and Deductible
Depending on your coverage, you may choose your policy limits and deductibles. You must consider the best options, balancing adequate coverage with saving money.
Generally speaking, it is always best to buy as much coverage with the highest policy limits that you can afford. You must consider your financial situation and the risk you are comfortable assuming to determine which policy limits are best for you. If you purchase a policy with lower limits and are ever at fault for an accident, you will be financially responsible for any resulting expenses that aren’t covered by your insurance.
Rather than opting for lower policy limits, you might think about choosing a policy with a higher deductible. With the higher deductible, your insurance company will reduce your premiums slightly. Remember that if you ever need to make a claim, you must be prepared to pay that higher deductible before your insurance pays for expenses.
Consider Your Vehicle
If you are canceling your insurance because you are selling your vehicle, the type of vehicle that you buy next can also impact your rates. Some cars are more costly to insure because of the costs of repairing or replacing them. Others are more expensive because they’re statistically more likely to be stolen or broken into. Car insurance companies assume more risk by insuring these vehicles, so they pass some of that increased risk to you with higher premiums.
See how much insurance will be for the vehicle you’re considering purchasing before you sign on the dotted line.
Taking the time to compare quotes from multiple car insurance companies is the best way to verify you’re getting the best deal with your new policy. Compare.com makes this process easy, and Compare.com users save an average of $720 per year on their car insurance premiums.
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FAQs About Canceling Your Liberty Mutual Car Insurance Policy
Can I cancel my Liberty Mutual policy online?
While you can manage your Liberty Mutual policy online, you cannot cancel the policy online. To cancel, you need to call Liberty Mutual’s customer support and cancel the policy over the phone.
Does Liberty Mutual have cancellation fees?
Liberty Mutual charges cancellation fees for drivers in some states, but there is no fee in others. To find out if you will pay a cancellation fee, you can contact Liberty Mutual’s customer support.
Can I cancel my Liberty Mutual policy anytime?
Yes, you can cancel your Liberty Mutual policy at any time, and the remaining balance of your unused payment will be refunded. Depending on the state you live in, you may need to pay a cancellation fee.
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