by Guest » Wed Dec 04, 2013 03:54 pm
I totaled my car the first month of my six month paid policy. I didn't have a vehicle to insure during those remaining five months as I didn't replace my car until six months later. When I asked my insurer if they could just credit those five months to my renewal policy, they said that they were not able to remove my vehicle from my policy as it was the only vehicle listed. I needed to contact my agent that he is the only person that can remove the vehicle from my policy. They can assist by offering to verify with my agent that my vehicle was deemed a total loss and the date of loss. It wasn't until a friend brought it to my attention that I should have gotten refunded for those months that I asked my insurer to be credited on the next renewal period.
My agent knew my vehicle was deemed a total loss and the date of the accident because I called his office from the scene of the accident.
Wouldn't the five months be considered collecting an unearned premium by keeping the premium and not crediting or applying that unused portion to my renewal?
Thank you for your time reading my post and any advice or comments are much appreciated.
My agent knew my vehicle was deemed a total loss and the date of the accident because I called his office from the scene of the accident.
Wouldn't the five months be considered collecting an unearned premium by keeping the premium and not crediting or applying that unused portion to my renewal?
Thank you for your time reading my post and any advice or comments are much appreciated.
Posted: Wed Dec 04, 2013 06:56 pm Post Subject:
Wouldn't the five months be considered collecting an unearned premium by keeping the premium and not crediting or applying that unused portion to my renewal?
You are correct. The insurer should never have told you the agent is the only one who may cancel coverage.
File a complaint with your state's Dept of Insurance.
Posted: Wed Dec 04, 2013 09:19 pm Post Subject:
This was my insurer's Total Loss Claims Manager's emailed response to my email request asking to have the the unused premium be applied to my upcoming renewal.
Posted: Wed Dec 04, 2013 10:01 pm Post Subject:
So now, do I ask him again and to please double check that his answer is in fact accurate because I've heard differently? If he responds with the same answer then file a complaint? Is he ignorant of the Laws, misinformed of the Laws or purposely telling me inaccurrate information to save the company money?
Thank you for your time and especially your help.
Posted: Thu Dec 05, 2013 04:49 am Post Subject:
So now, do I ask him again
One definition of insanity is "doing the same thing over and over again, and expecting a different result." Don't bother. File your complaint with the state and let him explain it to them.Posted: Sat Dec 07, 2013 04:42 am Post Subject:
One thing I can think of that may prevent them (Your insurance company) from refunding the full amount of the unused premium is did you have a rental car during the salvage process because if you did MOST insurance companies will transfer your personal auto policy coverages to a rental car it is under the temporary substitute automobile clause in your contract basically your insurance company will provide coverage for you in your rental as if the rental car is your person auto in the event of a loss if your automobile is removed from regular service for a covered loss ie: collision etc.... You would be entitled to a refund from the day the rental car was turned in and payment was issued from the insurance company for your car
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