Home and car insurance cancellation calculator

Select a date for when you want your home or auto policy to start.

Moving? Choose a coverage start date for your home policy based on your moving or closing date. For auto, both your cancellation date and coverage start date should be the same to make sure there’s no gap in your coverage.

Switching? For your home and auto policy, both your cancellation date and coverage start date should be the same to make sure there’s no gap in your coverage.

The cancellation fee your insurance company will charge you will depend on how far along you’re in to your policy term. The closer you are to your policy renewal date, the less you’ll have to pay.

Yes, you can cancel your insurance policy at any time. However, there are a few things to keep in mind.

Cancellation fee

If you cancel before your renewal date you may have to pay a cancellation fee – but don’t let that scare you. Check with your insurance company to find how much it could cost you to cancel mid-term. Sometimes even with a cancellation fee, you can save money in the long run by switching to Sonnet.

Coverage gaps

If you want to cancel your home or auto insurance with your current provider, make sure that your current policy ends and your new policy starts on the same date, so you aren’t without coverage, even for a second. You don’t want a gap that leaves your home or car unprotected. Plus, it’s illegal to drive a car without auto insurance in Canada.

Payment

Have pre-authorized bank payments set up with your current insurer? Give your insurer enough notice when cancelling to prevent any future withdrawals. Nobody wants two payments coming out at once!

If you decide to switch to Sonnet, you can easily set up your new policy online, or you can reach out to one of our fully-licensed Insurance Agents. They’ll be happy to help answer any questions about coverage, pricing, billing, and more. Contact us today!

Contact your broker or insurance provider and let them know you plan to cancel. You may be asked to submit a request in writing to confirm your cancellation.

It helps to have on hand the following information:

• Insured’s name(s)
• Policy number
• Insurance company name
• Cancellation date

Be sure to set up your new coverage before you cancel to make sure you’re always protected.

Need a refresher on how to get a Toronto car insurance quote? Review these easy steps.

We may request a down payment that is due on the date you purchase your policy (for some customers). Don’t worry, we’ll be up front if this applies to you and you’ll know exactly how much the down payment will be before you commit to buying your policy.