Guaranteed Renewable Automobile Insurance

The subject was introduced by presenting the details of two plans the Allstate Plan and the National Bureau Plan proposed for New York. Both plans guarantee that, except for certain specified reasons, the Liability coverages will not be canceled during the guarantee period. For Allstate, the guarantee period is five years for new business. Under the Bureau Plan, the guarantee period is for one year; however, the policyholder is also guaranteed that he may renew his policy unless a notice of intent not to renew has been mailed to him at least 45 days prior to the renewal date.