So my insurance expired May 5th and i assumed that it will always be expired until i renew again. But then i checked my transaction log the other day and it says TD Insurance has withdrew money from my account?? I never got the new insurance slip nor did i get any email/snail mail regarding my renewal.
If your insurance is paid pre-auth from your financial institution the company assumes you are renewing unless told otherwise. It's your responsibility to cancel the policy.
Insurance remains active until you send your insurance company a written notice that you would like to cancel. This prevents people from accidentally forgetting to renew their insurance, getting into a collision, and then finding out that they were never insured (and subsequently blaming/suing the insurance company for their own stupidity for forgetting something so important).
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