Cancelling Car Insurance. Here’s what happens after.

I assumed the risk of cancelling my car insurance to test out how much my insurance will go up by. I wanted to check out the process and out some valuable information regarding registration with the DMV in California.

How’s it going everybody this is beat the bush when the shutdown happened i went ahead and canceled my car insurance and also my scooter insurance and now i live to talk about it today i’m gonna talk about what happened how much money i saved what’s gonna happen are they gonna find you or what not does your insurance rates go up all this i’m gonna talk about today

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Help out this channel this is through my affiliate link down in the video description below now first i’m gonna talk about my scooter insurance this is about seven dollars every single month and i have it with geico they make you pay one year at a time so what is it like a hundred bucks or something and i went ahead and canceled my insurance and of course whenever

I canceled insurance of anything i don’t even move the scooter outside of my garage it doesn’t move so i’m not driving it illegally or anything same with the car some people thought when i cancel the insurance i’m canceling it but i’m still using the vehicle no this is not the case so what happened with the scooter interestingly is that i got a letter from dmv

Saying that they’re gonna suspend my registration now this is registration i paid for already you know you have to pay for registration this is in california you have to pay for every single year and it seems like me canceling it with geico they send the message to dmv of california within about two months or so saying hey you know this guy he cancelled it isn’t

And what it asks you to do in this letter is you have to go back on the dmv website and give them your policy number and everything saying that it’s active and then once you do this you don’t have to pay a fine to reinstate your registration if you go pass the deadline which is you know they give you about a month right so from beginning to end roughly about three

Months until they actually suspend your registration then you have to reinstate it for a small fee around fourteen dollars or so but i feel like i don’t want to go into the emv i don’t want to waste my time i don’t know if you can do this electronically by reinstating usually it’s not the case so it’s gonna waste like a hour of my time so what i wanted to do is


Just okay you know bite the bullet i’m gonna start my insurance again so i went ahead and went on geico started the insurance and they want me to pay one year at a time fine i paid one year at a time it was roughly a hundred dollars or something and they charged my credit card fine and then about a day or two later because of the shutdown stuff they refunded me

About fifteen dollars it’s about a 15% discount because people are driving less or whatnot ten days after i started the scooter insurance i decided to go and sell the scooter now i initially bought the scooter for $1,200 drove it for about ten years i sold it for $900 so $300 for the cost of the scooter for me you know and also i have to pay for maintenance and

Stuff but thirty dollars a year for for riding the scooter around is pretty darn good now i sold it because i’m just kind of on this minimizing binge i just have too much stuff i have so many vehicles a scooter a tesla performance i have an electric scooter i also have a bike i also have a skateboard before i even have like rollerblades and i also had a porsche

Boxster before but you know those are i got rid of those already anyhow i sold the scooter i went ahead and reported to the dmv that this vehicle is sold it’s no longer my responsibility it only had two months worth of registration so if i held on to the scooter for two more months i have the you know put in $150 for registration so i wanted to not pay that so i

Sold it in a hurry when i sold it i also went back to the insurance and they refunded me money and they actually refunded me $8.00 more than i actually paid into it because after did this count i paid only $85 but i actually got back like 93 dollars or something so it beats me on how how they do these calculations i think they did not take into account at the lock

Down discount when they do the refund so you know it’s their own accounting thing that they didn’t account into this so what did i learn from the scooter experience here is that you can cancel your insurance and not use the vehicle but you know if you don’t want to go through a whole bunch of hassle you have to reinstate it within two or three months or so now

In comparison with the tesla i cancelled my insurance with the tesla on the same day and tesla insurance is a little bit slower to report it to the dmv or maybe the paperwork goes a little bit slower or whatnot i don’t know the reason but the registration complaints saying that they’re going to suspend my registration for my tesla came roughly three weeks after

The letter came for my scooter so it seems like tesla insurance it’s a little bit slower about this so if you happen to cancel your tesla insurance it’s gonna come a little bit slower and you’re gonna have a little bit more time and then avoid this reinstatement fee of about fourteen dollars or so now with california dmv it’s pretty easy to give them your policy

Number they give you a link you have to type it in exactly because it’s really hard to find any other way and then once you type it in you just put in your policy number put in all that information then dmv i think they have some sort of electronic system that they’re going to pull whatever policy number and then go ask it is this policy insurance policy current

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And then they seem to know this right away and then they’re gonna reinstate your registration not reinstate they’re gonna leave it active so initially my tesla insurance costs about ninety four dollars and a lot of people in the comments when i first said that i’m gonna cancel my insurance people thought i was crazy i don’t know why i do this it’s kind of you

Know kind of putting myself in pain i kind of like to do things a little crazy you know sleep in the car for a week go work at amazon warehouses or something just put myself through some treachery i guess anyhow some of you have concerns that your insurance is gonna go up a lot if you cancel it there’s gonna give you a gap or something well i experienced this

Myself and yes it’s true they will increase insurance because i remember what my policy exactly is and then when i got it recorded with tesla insurance it was roughly six to ten dollars more expensive it went from 94 to a hundred and four however this is not what i paid i actually lowered my mouths usage from seven thousand to five thousand and then i got it back

Down to like $94 so it was roughly the same it’s like a doll or cheaper even so i’m roughly paying the same my coverage is a little bit lower because you know i’m driving less miles so you know apples to apples with the same insurance policy it did increase by five to ten dollars or so so what did i learn in this whole experience is that yes you can cancel and your

Insurance and dmv is not gonna find you right away for california at least and they’re going to cancel your registration there you’re gonna deactivate it um within actually about a three month period so if you were locked down and your car is sitting around you can indeed cancel the insurance and save some money so i cancelled it for a full ah three months minus

One week because you know one more week is exactly the day of three months so 94 dollars times three months this is roughly three hundred dollars okay i’m gonna you know round down a little bit about two hundred seventy or so so this is the amount of money i saved a word about my sanity here because i canceled my car insurance and i could not go anywhere i kind

Of feel like i cancelled it for a little bit too long i could do one one month easily probably two months even order groceries in and i use my electric scooter to do all the things i need i can use my electric scooter to ship items that i like to sell instead of all my old stuff that i’m getting rid of because i’m on this minimalism binge i can buy my groceries

With my electric scooter i can go to the bank i can do a lot of stuff other than visiting people because that’s like more than 20 miles the farthest i can go with the scooter is ten mile one way 20 mile round-trip it’s a little bit lower now like around 19 miles or so so the range has reduced a little bit since i used it so all of this has been a very interesting

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Experience because i would say i’m driving myself insane near for not having a car because some things i have to not do for example i have a lot of donations i want to give that i need to drive all this stuff too because it’s so bulky i can’t bring this with the scooter with me and also i like to go to this recycling place you know there’s a hazardous waste thing

I’m purging a lot of stuff so i need a car to do all this and because my car has been in the garage it’s it’s unmoved i think the furthest i ever move it was outside the garage i never drove it onto the road when i did not have insurance so you know that’s as far as i moved it and my feeling through all this is you still have to pay for registration because when

I bought the car i paid for registration i freaked out how much it was maybe like $800 or something for the entire year if you’re not using the car you’re still using the registration you don’t get a refund on registration or anything so that part you’re kind of kind of like wasting you’re just kind of burning it feels like i abused it for leaving it there like i

Kind of abandoned it well anyway burning up a bunch of registration months three months in total for for the car but i guess i saves seventy dollars but then i didn’t get to drive the car i would say i can do it for two months and i would say going forward i might be able to you know do another month cancel my insurance for a different state if you cancel insurance

You might get fine for this so you really have to look at the laws for your own personal state for california i actually experienced it and i was ready to get a fine for it and i you know whatever they throw at me i was like ready to take because i wanted to do it and find out what happens kind of like you know what happens if you quit a job and and don’t go back

And you know try to make your money on youtube so thanks for watching this video i hope this was interesting for you i’m trying to share every little piece of knowledge that i picked up from going through this experience and based on this experience maybe you can cancel your insurance for i don’t know a month maybe you can do it too if you’re going on vacation for

A month right i personally have never canceled my insurance when i went on vacation for a month now i know this is actually something i can do if it’s within a month i can cancel it and then i’ll come back reinstate it okay maybe my insurance will go up by ten dollars but then you know it’ll be like this $90 $95 i would say you can wait if this is worth it for you

Or not thanks for watching everybody if you guys are interested in that weeble referral link this is a free trading platform you can get two free shares of stock if you deposit $100 check out my referral link down in the video description below and as always push that like button let me know if you’re gonna cancel your insurance comment down below and push that

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Cancelling Car Insurance. Here's what happens after. By BeatTheBush

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