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We just sold one of our cars today (paperwork filled out with transfer of title). I'm getting mixed info on whether or not we can cancel our car insurance right now even though we haven't turned in the plate.
Do we have to wait until the plate is returned to DMV? Also does anyone know how easy it is to just return the plate in the local area? I know most DMV's have moved to appointments but we hope to just go to the nearest location (Wake Forest) on Monday to hopefully get them returned asap.
You should be able to cancel today.
Also, your insurance company will backdate cancellation to today when transferred out of your ownership, when you sold, so you can wait until Monday if you are more comfortable.
You should have to turn in the receipt for the tag. Any agent who doesn't require that is an idiot. I've known some doozy agents but most will require that or proof of new insurance to cancel your policy.
It's very easy to do it right now. Much easier than the license bureau. Last time we did it, the tag bureau was taking peoples' numbers and texting them when to come in, not sure if they let you wait inside now.
My ex got hit with a fine for NOT turning in the plate before cancelling insurance. I don't remember if it was 50.00 or 100.00 but it was a lesson I learned from her mistake.
You should have to turn in the receipt for the tag. Any agent who doesn't require that is an idiot. I've known some doozy agents but most will require that or proof of new insurance to cancel your policy.
Jeeze.... I wonder what the status is of the small collection of tags I have in the garage?
But, I applaud the vigor of the CD Faithful, to step in and correct my quick reply! And, I knew Twingles would have the right answers.
LOL my FIL just passed and DH is going to report the tags as lost so he can keep them....FIL had a Purple Heart tag.
Am I saying it's impossible? No.
Am I saying I've had claims from people who say "I sold that car months ago!" "Did you turn in the tags?" ....uh, noooooo. The agent had told them they weren't un-insuring the car without that receipt. Now you've got a big ole mess because people don't listen and don't realize insurance is a legal contract. These are the same people who hear the dealer say "your insurance is good on this new car for now" and THINK they hear - "don't worry about the insurance we took care of it!". People really getting their policy in the mail every 6 months or a year and not checking which cars are actually on the policy.
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