What notice period is required for cancellation of a commercial auto policy in force for less than 60 days?

In Illinois, the required notice period for the cancellation of a commercial auto policy that has been in force for less than 60 days is 30 days. This timeframe is established to provide both the insurer and the insured with a reasonable period to adjust to the cancellation.

The 30-day notice period is designed to ensure that the policyholder has sufficient time to seek alternative coverage, possibly reducing the risk of being uninsured. It reflects the regulatory emphasis on providing a fair opportunity for insureds to respond and adjust their insurance needs in a timely manner, as abrupt cancellations could leave them vulnerable.

Understanding the specific notice periods required for different types of insurance policies helps ensure compliance with regulations and protects both the insurer's interests and the policyholder's rights.