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 Posted: Tue Mar 17, 2009 1:12 am Post subject: Canceling a policy |
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I have tolds my story about our experience with Safeco in previous posts (my son doesn't live with me) and after today, I am ready to leave them. They sent me a letter asking for a signature agreeing to exclude my son and then said that they will charge us an extra $85/month for this exclusion.
Enough is enough.
Can I simply cancel the policy? My dd was involved in an accident last month, they have paid out for our portion of the claim and I have my car back. I'm unsure about the other driver's claim -- rather than file a claim, he immediately retained an attorney and asked for multi-thousands. Safeco has been closemouthed on the details, but I am scared that they won'l let us out of the policy because of this claim.
If they consider it "open", can we still leave? |
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Lauri
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Joined: 25 Jan 2009
Posts: 20
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| Posted: Tue Mar 17, 2009 9:09 am Post subject: |
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Hey, you must insist the carrier to diclose the status of the claim. However, I think you'd still be allowed to switch. Safco has already acknowledged the claim, right? therefore at any rate they are required to cover it. But I think you are required to inform your existing carrier about the switch.
Well, the experts would certainly add to this so just hang tight.
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anonymous 12
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| Posted: Tue Mar 17, 2009 11:53 am Post subject: |
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| Quote: | | then said that they will charge us an extra $85/month for this exclusion |
I have NEVER heard of that...what would be the point of the exclusion then? You need to contact your states dept of ins...on this one... | Quote: | Can I simply cancel the policy? My dd was involved in an accident last month, they have paid out for our portion of the claim and I have my car back. I'm unsure about the other driver's claim -- rather than file a claim, he immediately retained an attorney and asked for multi-thousands. Safeco has been closemouthed on the details, but I am scared that they won'l let us out of the policy because of this claim.
If they consider it "open", can we still leave? |
You bet you can, and they will owe you the pro-rata share of your premium...be SURE you are insured with another carrier PRIOR to canceling the policy....
If (and it was) your policy was in effect the day of the accident...you could cancel it the following day and it would have zero bearing on the claim...you only had to be insured that day...(day of loss)...
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Lori
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Location: Missouri
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| Posted: Tue Mar 17, 2009 6:01 pm Post subject: not impressed with safeco |
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| I've been hearing alot of negative feed back about this Carrier |
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Justin
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| Posted: Wed Mar 18, 2009 12:47 am Post subject: |
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Lauri,
Yes, you can cancel the policy. An insurance policy is what is called a "unilateral policy," which means it is one-sided: only the insurance company is required to perform. You can cancel the policy. Lori is correct, however, that you want to have your new coverage in place BEFORE you cancel. One of the worst things you can do is to cancel, expecting to get replacement coverage, and then have trouble finding that replacement coverage because of the claim record.
Safeco must refund the unearned (unused) portion of the premium that you have paid. Depending on your state and Safeco's plans, there might be a cancellation penalty (10% of the remaining premium is common).
Go get your new coverage, and I hope you have a better experience with the new company. There are plenty of companies and plenty of agents that would love to have your business.
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ChristyP
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Location: Lewis Center, Ohio
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| Posted: Wed Mar 18, 2009 6:10 am Post subject: |
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| I think you all have mentioned a very important point….we often make this mistake and hastily cancel the existing policy without obtaining a new one. Lauri, you shouldn’t let the coverage lapse. Have you got the new policy yet? |
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simon
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| Posted: Wed Mar 18, 2009 10:00 pm Post subject: |
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>>Lauri, you shouldn’t let the coverage lapse. Have you got the new policy yet?
Funny you should ask. (Life just keeps getting better and better).
The agent I have been working with got me some great quotes, but no one will write a new policy because there is an open claim on this one. Safeco says that claims stay open for 2 years unless they are settled and this one probably won't be settled. They have paid for the repairs to my car as well as the other driver's vehicle, but the other driver then contacted an attorney and filed a separate claim for injuries, pain and suffering. Safeco has repeatedly requested paperwork -- doctor's bills, paystubs, prior tax returns and medical records -- and none has been forthcoming. Both the adjuster and I think the driver wasn't injured, but simply wanted a big payout. The attorney he has chosen is one of those flashy TV lawyers whose clients brag about big settlements. By now, he should have at least seen their doctor, but since there has been no submission of receipts, he's probably realized they wouldn't find a problem and he'd be stuck with their bill, too.
Safeco says that this open claim shouldn't cause a problem if I want to leave, but the company I'd rather work with says to wait a few more months until the policy has almost expired and if there has been no action on the claim, they will be agreeable to writing a policy with us since we were previously with them for home and auto for many years with little problem (a hail claim, yawn).
As for the exemption fee, after I called and expressed my dissatisfaction with them, letting them know there was nothing they could do to make me become a repeat customer, they stopped further collection of this fee. |
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Lauri
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