Katusha Manocchia

Question: Keep until expires or cancel car insurance?

My car has broken down for the last time. It is very old (1998) and very high mileage. I am deciding to sell it for parts and what I can get rather than sink any more money into it. Point of negative returns. I will be going carless for some time, taking the bus and using a car share program. That is just background though. Hoping to save the money, pay off other things and raise credit score to possibly qualify for a brand new one in the future. My question is about the auto insurance. I just renewed at the beginning of the year. So I have about 4 months left before the policy is done. I am making monthly payments. If I cancel now, will I still owe them for the entire policy amount - (can they come after me for it?) Or does it look better (when I go to get insurance in the future) that I keep paying on the policy until it expires in a few month (just not renew at that time). I don't want to spend money needlessly. However, I also want the best (least expensive) insurance rates when I need it in the future, and a good track record. Can anyone (especially if you are in the insurance industry) give me the straight scoop? Thanks and much appreciated.

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