Is There a Fee to Cancel Farmers Auto Insurance?
Last Updated on January 9, 2021
Some car insurance companies charge a cancellation fee, while others do not. Does Farmers Insurance charge a fee for canceling car insurance?
Typically, Farmers Insurance does not charge any type of cancellation fee, nor does Farmers charge any type of penalty for early termination. Most policyholders receive a complete refund on prepaid premiums with no cancellation fee required.
Keep reading to discover everything you need to know about Farmers Insurance cancellation fees and how they work, including how much it may cost to cancel Farmers Insurance.
Farmers Insurance Does Not Charge Cancellation Fees
Most insurance companies in the United States, including Farmers Insurance, do not charge cancellation fees.
Most policyholders can cancel their car insurance policies at any time without paying a fee or facing any type of penalty.
If you cancel your Farmers policy in the middle of a term, then you could receive a refund on any prepaid premiums.
If you cancel your Farmers policy at the end of a term or when your policy is up for renewal, then you will not pay a cancellation fee.
Some insurance companies withhold a portion of your refund as a type of cancellation fee. However, we can find no reports online of Farmers charging a cancellation fee, withholding a portion of premiums, or charging drivers any type of penalty for canceling a car insurance policy.
Cancel Farmers Insurance At Any Time
Like most insurance companies, Farmers Insurance lets drivers cancel policies at any time.
You can contact the company at any point to cancel your policy. You can cancel in the middle of your policy, before your policy expires, or a week after buying your policy. It doesn’t matter.
If you plan to continue driving, then you need to cancel your Farmers Insurance policy the same day your new policy starts to avoid a lapse in coverage. If you cancel Farmers Insurance on January 12, for example, then your new policy needs to start on January 12 to avoid a lapse in coverage.
How to Cancel Farmers Insurance
Farmers Insurance allows anyone to cancel by phone or through an agent. Contact the company, tell them your date of cancellation, and receive confirmation.
You can also cancel Farmers Insurance by mail or in-person by visiting your local Farmers agent.
Here’s how to cancel your Farmers car insurance policy:
- Cancel by phone by calling your agent
- Call 1-888-327-6335 to speak with a Farmers Insurance representative
- Cancel by mail by mailing a letter to Farmers Insurance customer service at 6301 Owensmouth Avenue in Woodland Hills, CA 91367
- Cancel in-person by visiting your local Farmers insurance agent
You need to provide your name, date of birth, policy number, and date of cancellation to cancel your Farmers Insurance.
How to Receive a Refund on Farmers Insurance
Farmers Insurance offers refunds on all prepaid premiums. If you paid for your car insurance policy upfront, then you will receive a refund on any dates you paid for but did not use.
Let’s say you bought a six-month car insurance policy from Farmers Insurance, paying for the policy upfront. You cancel your policy in the second month because you found a better rate. You receive a refund on four months of car insurance premiums. You have already paid for these premiums but you did not use them, which means you are entitled to a refund.
Some car insurance companies keep a portion of your refund or charge a cancellation fee. However, we cannot find any reports of Farmers withholding refunds or charging a cancellation fee.
Other Things to Know Before Cancelling Farmers Insurance
Canceling a car insurance policy is not a big deal. Anyone can cancel their car insurance policy in minutes – and even receive a refund.
Other things to know before canceling your Farmers Insurance policy include:
Ask for Discounts: Many companies offer loyalty discounts. If you have been with Farmers for three or more years, then you may qualify for a loyalty discount. You may not receive this discount until you ask for it. If you’re switching to a new provider for better rates, then Farmers may provide a loyalty discount to match your lower rate.
Avoid a Lapse in Coverage: If you plan to continue driving after canceling your Farmers Insurance policy, then you need new car insurance. Your new car insurance policy needs to begin on the same date your old policy ends. Car insurance policies end at 12:01 am on the date of cancellation. If you cancel your Farmers Insurance policy on October 25, then your new policy needs to begin on October 25 to avoid a lapse in coverage.
Update your Policy as Needed: You may be tempted to switch to a new provider after a major life change – say, getting married or moving to a new state. That’s a great time to make a switch, but you can always update your Farmers Insurance policy to reflect those changes. Contact Farmers Insurance to adjust your policy as needed.
Consider a Non-Owner Insurance Policy: If you are canceling your Farmers Insurance policy because you no longer own a vehicle, then consider buying a non-owner insurance policy. Non-owner car insurance covers you when driving a rental car or someone else’s car, providing secondary coverage until you return to driving.
Ask About Price Matching: Most insurance companies in the United States do not technically price match. However, Farmers Insurance may find discounts or other bonuses to lower premiums. Or, policyholders may raise deductibles, lower coverage, and make other adjustments.
Verify Other Insurance Perks: Competing insurance companies may dazzle you with lower rates and better coverage – only to disappoint you when you become a customer. Read the fine print, verify the terms and conditions, and make sure you understand exactly what the company offers. It may or may not be better than your Farmers Insurance policy.
Final Word – Farmers Cancellation Fee
Farmers Insurance does not charge a cancellation fee. In fact, Farmers Insurance provides refunds for unused, prepaid premiums.
To cancel your Farmers Insurance policy without paying a cancellation fee, contact the company today. You can cancel a Farmers Insurance policy in-person, by phone, or by mail.