Have you ever noticed the time your policy cancels?

What does 12:01 am mean to you? Any idea why insurance companies use this time to cancel a policy? Anyone have any ideas on a better time and why. From my experience most insured's see the date on the cancellation letter and think they have until midnight of that day to make the payment, instead of understanding that the policy already cancelled the first minute after midnight.

It seems it may be a little less confusing if they used 11:59:59 pm as the time to cancel.

What do you guys think?