What is required to cancel an insurance policy?

In North Carolina, an insurance policy can be cancelled by either the insured or the insurer. To cancel an insurance policy, the party initiating the cancellation needs to provide written notice to the other party. If the insured wishes to cancel the policy, they must provide the notice to the insurer at least thirty days before the termination date of the policy, and the notice must include the policy number and the effective date of cancellation. The insurer may require the insured to provide proof of new coverage if the cancellation is being made to switch to another policy. If the insurer wishes to cancel the policy, the insurer must provide written notice to the insured stating the reason for cancellation and the effective date of the cancellation at least thirty days in advance. If the cancellation is due to non-payment, the insurer must provide notice at least ten days in advance. Cancellations of insurance policies in North Carolina are governed by statutes in the North Carolina General Statutes, Article 7A, Title 58. Be sure to follow these statutes for any insurance policy cancellations.

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