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 Posted: Tue Dec 30, 2008 6:49 am Post subject: cancling policy advice- safeway insurance |
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I need an advice. I insured with safeway insurance through a broker, then a few days later I went to cancel my Insurance and get my refund. they gave me an estimate on how much they are going to give back (the broker). then I went back a gain to get my refund but they claimed that I have to wait 2-3 weeks for my refund. then I called Safeway insurance to ask them. they told me that its the broker who handles these issues and they only handle the claims. I went back and told them that but they insisted that I have to wait for the insurance company because they dont know how much I should be refunded. why should I wait for my refund 2-3 weeks when they charged my friend $100 late fees for 2 days. this is obscure, what should I do, I paid the full amount in one payment. is there an agency that I can complain to or If I wanna sue them will I be able to ?
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insure what?
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| Posted: Tue Dec 30, 2008 2:53 pm Post subject: |
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First of all why would you buy a policy and cancel it a couple of days later? surely not just wanting 'proof' for licensing right?
What state are you in? If you think you have a case, contact your states Dept of Ins...frankly though, I think they are jerking you around some, I think they are also pissed that they had to do all the work for you to cancel so quickly.
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Lori
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Location: Missouri
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| Posted: Wed Dec 31, 2008 9:47 am Post subject: |
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I have the same question as Lori, why do you want to cancel the policy? Have to get another policy yet? or is planning to drive without coverage? I'm sure that you have a reason for canceling the policy. However, if you like to file a complaint with against the insurance company you should write to the state insurance commissioner.
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boxfullofrocks
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| Posted: Thu Jan 22, 2009 3:05 pm Post subject: |
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If you are waiting for the Agent/broker to refund your money and not Safeway, then I am guessing that this is an agency bill policy. This means (in layman's terms) that the agent is responsible for all billing for the policy, and the agent pays the premiums on all of the policies it writes in one lump sum to Safeway. This is usually advantages to the agent because they can charge all there own billing fees and financing fees. But you paid your policy in full so you didn't pay any financing fees. Most likely the agent is telling you to wait 2 to 3 weeks because he/she is waiting for the ACH transaction to happen or waiting to get there monthly statement from Safeway to see if they got there precentage of the comission for the few days. It is posible that the agent got the money back right away and is siting on it just for this reason.
If this was not an agency bill policy, then I think Safeway would send you a check directly.
I hope this helps. |
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rootberg
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| Posted: Thu Jan 22, 2009 3:23 pm Post subject: |
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First of all, I've never heard of "Safeway" insurance, but I have heard of "Safeco".
Some states are implementing a system that allows law enforcement personnel to access auto insurance information on any particular driver.
Just because you might have a proof of insurance card in your glove box does not mean that the police officer who stops you will accept just that piece of paper as adequate proof of insurance coverage.
I would be very careful if I were you.
I don't think any insurance company would charge a $100 late fee.
The insurance broker or agent has no authority to actually "cancel" any insurance coverage provided under an auto insurance policy. The agent/broker, however, can send the request to cancel to the insurance company. The "company" is responsible for refunding premiums and the company with charge you (pro-rated) for any insurance coverage actually provided. |
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InsuranceMaze
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