Is it safe to cancel an insurance policy on a car in an accident? Car is now in a junk yard - is it safe to cancel insurance since it is inoperable and will probably be totaled by insurance or wait till after insurance company inspects vehicle to cancel? There will be lawsuits related to the car that has been wrecked ...
I would recommend you wait until the vehicle is inspected in case something else happens to the vehicle in the interim, you'd still have coverage. If the reason for the potential lawsuit is becuase of some malfunction with the car, you need to keep the car and preserve it. Don't leave it in the junkyard for something else to happen to it. If there is a products liability claim with regard to your damage vehicle, you need to talk with an attorney who handles products liability cases immediately.
This information provided does not create an attorney-client relationship and is for informational/educational information onlyl.
Since the car will be totalled there is no reason to continue the insurance on it. You do not need current insurance on the car to have any claims processed.
DISCLAIMER: David J. McCormick is licensed to practice law in the State of Wisconsin and this answer is being provided for informational purposes only because the laws of your jurisdiction may differ. This answer based on general legal principles and is not intended for the purpose of providing specific legal advice or opinions. Under no circumstances does this answer constitute the establishment of an attorney-client relationship.
You need to allow the insurance company to inspect the vehicle and then cancel the policy. Your carrier should take care of that promptly.
The information provided herein is for informational purposes and should not be construed to establish an attorney client relationship. To establish such a relationship, the prospective client would need to meet with me in person, and have a detailed discussion about all the facts and circumstances surrounding your case.
Although it does not sound as though you will need further insurance coverage on the vehicle, I would not cancel until it is deemed a total loss and inoperable by your insurance company and your must remember to turn in the license plates to DMV and remove registration and insurance stickers and info from vehicle. If there is an issue about you premium payment you can talk to the insurance company about pro-rating your payment.
All comments and/or opinions are for general information, and do not create an attorney-client relationship. In order to obtain a comprehensive and accurate legal opinion you should consult an attorney with the specific and detailed facts or your case/question.
Your rights are locked in as of the date of loss. While you are obligated under the policy to cooperate, which includes making the vehicle available for inspection (if the junk yard will require your consent), you don't need to maintain the policy for them to indemnify you for this loss. The obligation to cooperate becomes even more important if you are expecting claims to be made against you.
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