In most states, companies are required by law to give you a pro rata refund, that is give your money back for the time remaining on your policy.
Insurance premiums are calculated for the year. If you cancel your policy refunds are usually issued retroactively. So if you cancel your insurance 6 months into your policy, you wil be refunded for the remaining 6 months. It is usually calculated to a daily value, so you will get a refund for the remaining days left in the year. However, it is up to the insurance compant on what their refund policy is. Some companies will have a cancelation policy of 1 months cost of insurance if you cancel your policy. Most companies however have no fee.
No.
If your property is in a flood plain or your mortgagor requires flood insurance, no, you cannot cancel flood insurance.
What does an auto insurance underwriter do?
An insurance company can cancel your coverage for any number of reasons, all of which would need to be laid out in the policy (contract) that you signed with them upfront. The most common reason that a company would cancel your insurance would be for nonpayment. Other than that, you are probably safe unless you lied about something on the application.
I don't think it violates Connecticut insurance regulations. But you should be able to cancel the policy and get a pro-rated refund or full refund.
You should minus a processing fee and one day worth of coverage. Auto insurance policies are written on a pro-rated basis.
Sure, you can. The insurance company should pay you a pro-rated refund after you cancel the policy.
one year
If you don't own a vehicle, or have no intention of driving, you do not have to maintain auto insurance.
Yes, if you cancel your home insurance policy mid term you would be entitled to the unearned portion of your premium payments.
The policyholder should contact the insurance company and cancel the policy - you might get a partial refund if the premiums are paid up-to-date!
Yes, you can cancel any policy at any time, and expect a refund for the used portion of premium paid.
When you call you insurance company to cancel, they may want the request in writing...this is helpful if you have an agent, because you can just pay them a visit. The refund from unearned premium should be sent to you within a week of cancellation
Most insurance companies will refund any remaining policy time. It will be prorated. If your mortgage company paid it out of escrow funds, the refund may get sent to them.
Insurance premiums are calculated for the year. If you cancel your policy refunds are usually issued retroactively. So if you cancel your insurance 6 months into your policy, you wil be refunded for the remaining 6 months. It is usually calculated to a daily value, so you will get a refund for the remaining days left in the year. However, it is up to the insurance compant on what their refund policy is. Some companies will have a cancelation policy of 1 months cost of insurance if you cancel your policy. Most companies however have no fee.
I really dont know that answer.