Cancelling your insurance – Let’s debunk some myths


So you’ve found cheaper coverage and want to move your insurance policy. But, you’ve heard that it’s going to be costly and complicated to switch until your renewal date. This isn’t necessarily always true. Let’s take a look at some of these myths.


  • “It’s too expensive to switch!”

The closer you are to your renewal date, the cheaper it is to cancel the policy and your new savings may well offset the cost to cancel. It’s rare to see a cancellation fee over $400 and lots of customers even see a refund.

  • “The Insurance company will hold it against me if I cancel mid-term!”

This is only true if the Insurance company cancels your policy because you’ve missed payments, but NOT if you decide to move mid-term.

  • Calculating the value of changing policies is tricky and I’ll have to re-send all my info!”

That’s where your broker comes in! We use our insurer partners’ policy manuals and a cancellation rate calculator to do the hard work for you, plus, if you’ve already used us, we have your information on file – no need to provide additional info.

  • “The idea of switching is just a pain in the butt!”

It can be – but not with Foxquilt! Our mix of friendly, knowledgeable staff and super easy quick-quote technology make the experience of turning your curiosity into smart and comforting insurance a total breeze… 


If you’re looking for smarter home, business or auto insurance, don’t wait until your renewal. Join one of our many groups to benefit from group savings upfront, on your deductible and at renewal.

To get started, email us at [email protected], get a quote or chat with us on our website, or call us at 1-888-878-4588.