If they cancel your insurance policy should you get a refund?

Answer 1

One of the most common reasons for cancelling a policy is non-disclosure of prior accidents. Let's say you have two at-fault accidents on your record, or even someone else crashed your car. You don't declare it, you've paid for 3 months insurance and they cancel you one month in. In their minds they should have charged you triple if they knew your record.to start, hence no monies returned.

They don't just cancel the policy for the heckofit, if they did, they'd probably owe you a portion of the funds back, but perhaps not the whole pro-rated amount.

Answer 2

If the policy was paid in full, and the way your policy is written allows for it, then yes. If your policy, for some odd reason, has it that if you do something fraudulent or like that and you're canceled you may not get a refund, then you're SOL.

I would call your agent and ask for a refund of your unused premium. There may be an administrative fee associated with the policy that would make the pro-rated refund different than what you might get if you yourself calculated what the refund should be.

Good luck!!

Answer 3

it depends. Did you put a down payment? how long did you have the policy before the cancel, have you had an accident? all of that matters. IF you have paid and no activity has occurred and they cancel or null and void out your policy then the remainder of the premium for the month that you have paid could be refunded back to you.. you can email me if i can help you further.

Answer 4

Yes, if there's any unearned premium it will be refunded. Normally 10% of the policy amount is withheld for administrative costs and they then make a pro-rata refund of the balance, if any.

Answer 5

If there is any unearned premium then a refund will be mailed to you.