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Can you get a refund on homeowners insurance if you no longer own the property?
You may cancel a policy of any kind whenever you like and you will receive a refund on the unearned premium. If you don't own the property any longer, you certainly can cancel the policy. Make sure your agent cancels as of the day after you sold the property.
Can you cancel motorcycle insurance if you sell motorcycle?
Sure, you can. The insurance company should pay you a pro-rated refund after you cancel the policy.
How long does it take to get a refund from Geico after you cancel your insurance?
one year
Can an insurance company cancel homeowners if foundation needs some resurfacing?
yes
How can you get a refund when your mortgage company and you both pay for homeowners?
Yes and it happens quite often. Usually when you let you Homeowners insurance cancel or change companies and fail to notify your insurance company to send a copy to the mortgagee. If the mortgagee does not have proof that you have insurance and have them listed on such insurance, they will place "force-placed" coverage on the property to protect themselves and they will charge you for this coverage. As long as you get them notified and proof quickly, they will cancel their policy and refund you the premium. Make sure you know that the coverage they purchase on your behalf only covers them and covers no contents of yours, no liability coverage, and only covers the bare minimum coverage. And it is usually more expensive than homeowners you buy on your own. When you get a mortgage on your home your agreement is that you keep insurance on the home. If you let it cancel or don't have such insurance you are in breech of contract and they could foreclose on your home or put this coverage on it, their choice.
Can you cancel Progressive Insurance in Virginia at any time and get a refund if paid in Full?
Yes, you can cancel any policy at any time, and expect a refund for the used portion of premium paid.
How do you Cancel Home Owners Insurance and get a refund on remaining insurance due to home sale?
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
If you cancel your home insurance which was fully paid do you get a refund on the remaining months?
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.
Is it legal for a insurance company to auto renew an liability insurance policy in Connecticut?
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.
When do you cancel your homeowners insurance?
Generally one would cancel a home insurance policy whenever one decides they no longer need it, such as sold the home or the home no longer exists, etc.
Is it illegal for a homeowners insurance company to drop you?
No, it is not illegal for a homeowners insurance company to drop you. But they have to follow the rules for cancellations and non-renewals for the state they are operating in. For example, in Louisiana, if you have been with your homeowners insurance company for 3 years, they can't drop you. In Florida your homeowners insurance company can drop or cancel you but they must meet the minimum notification timeframes.
How does the insurance company calculate the amount of premium to refund when a policy is cancelled?
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.
