Is it best to just cancel the policy and re-insure when the suspension is over? Obviously in both cases premiums will go up drastically, I'm just wondering if there is any additional issues if the insurance company cancels my policy vs. my terminating it myself.
Premiums will go through the roof!
Try calling around to some insurance brokers and see what they recommend. Make sure they've dealt with this situation before.
Your insurance company is gonna kick you off anyways. So you can either wait till they kick you off, or just tell them and get kicked off sooner.
It can take them up to a couple months to kick you off if your lucky. Depends on your insurance company.
I knew a guy whose insurance kicked him off after 3 months.