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Because insurance plans are contracts, they must be cancelled in writing. You must write a letter giving your insurer formal notice of cancellation in order to cancel the contract.
Putting your cancellation request in writing protects your interests by giving hard copy proof of your request. As a starting point for your own gap insurance cancellation letter, use the template given here.
Gap Insurance Cancellation Letter Sample
May 25, 2022
BAC Gap Insurance
ATT: Cancellations Department
143 Gap Insurance Way
Columbia, VA 21061
Re: Cancellation of Policy #3333456
To Whom It May Concern:
This letter is to request you to cancel my gap insurance policy #3333456 effective 05/27/2022.
Please send me a written confirmation of this cancellation within 30 days upon receiving this request, refund the unused portion of my premium and stop charging the premium following the cancellation date.
Thank you for your time and prompt attention to this letter.
Sincerely,
Signature
Luke Jackson
234 Blue Lane
Livingston, NJ 08086
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