0
A fire insurance policy had an annual premium of 780 What is the regular refund if the policy is cancelled by the insurance company after 5 months?
Wiki User
∙ 14y ago
You are due a refund of of all unearned premium. Associated policy production fees are nonrefundable.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Which term is defined as the payment an insured makes to the insurance company on a regular schedual?
that is the insurance premium (can be monthly, quarterly, semi-annual or annual premium).
Which term is defined as the payment an insured makes to the insurance company on a regular schedule?
premium
A fire insurance policy has an annual premium of 780 what is the regular refund if the policy si canceled by the insurance company after five months?
Premium = insured value / $100 * Rate
Your home insurance was not paid by the mortgage bank last month The insurance policy has been cancelled Does the bank have to insure you now?
The bank must make payments of these items from the account on time, if you kept an escrow account with the bank and carried out regular deposits for the taxes and insurance payment. If the bank does not pay the insurance premium on time and the insurance policy is cancelled, the bank must either get in touch with the insurance company and make them reinstate the policy, or buy a policy with another company. Nevertheless, within this time you keep being liable for continuing the insurance payment through your escrow account.
A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.
A property insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
They are required to refund any unearned premium portion. Policy fees and the like are considered fully earned.
Which has a higher premium life insurance or endowment policies?
Endowment policies. In normal life insurance policies, if you outlive the policy term you wont get any money. Whereas, in case of endowment policies, the insurance company returns a big % of your insurance premium to you at the end of the tenure. So, these policies are much higher in terms of premium when compared to regular or pure-term life insurance policies.
What is a Lapsed Insurance Policy?
The insuring company provides us the insurance policy based on the premium amount we pay them on a regular basis. This can be monthly or quarterly or half yearly or even annual. A policy lapse means that the life insurance contract between the insurer and the insured (YOU) is terminated.
What is the difference between insurance reinstatement and insurance renewal?
Reinstatement means the policy LAPSED and is now back in force. Renewal just means you paid the regular bill on time. Renewal is when the company offers to RENEW, or CONTINUE, your insurance policy for another 6 or 12 months. REINSTATEMENT is totally different: Reinstatement means that your policy is being put back in force by the company after it had cancelled for non premium payment. The main difference between the two is this: With a reinstatement, you will not have had any coverage during the time from when the policy cancelled, to when it is reinstated. If you had an accident or claim during that time, you would NOT have any coverage. Also, if you had been driving during that time you would have been driving illegally, if your state requires mandatory insurance.
Can you replace SR22 insurance with regular insurance?
It already is Regular Auto Insurance. You just tell your insurance company that you no longer need the sr22 endorsement and they will stop filing it for you.
How much does insurance cost for someone with only an instruction permit?
That will depend on the rules of the company that is insuring the car that you are driving. Some companies do not charge any extra premium until you get your regular drivers license while others would add significant premium to the policy.
If you have not declaired speeding fines and points on your car insurance policy will your insurance company pay out on a claim?
Chances are the insurance company already knows about your driving history and how many tickets one has received. They get reports like this on a regular basis, or can find out rather quickly on their own. As long as they haven't cancelled your policy, there should be no problems with paying claims. Call your agent, asap.
