Homeowner Policy Cancellation/refund Question

[jbxk90]

I hope this is the right place to post this...

I live in Great Falls, MT, and I bought a house this summer. I purchased my homeowner's policy through Cascade Farmers Mutual for $694, and it took effect on June 3. Because of a dog issue, I found it necessary to switch insurance companies, and informed CFM that my new policy with AAA would begin on October 1st. A week or so later, I received a refund check from CFM for $343. My question is: why would I only receive back half of what I paid for an entire year, when I was only insured by them for 4 months? And if this is an error on their part, how should I proceed?

Thanks for any advice/help in this matter.

 

[Theinsuranceguys]

Look at your policy fees. There is usually a non-refundable inspection fee and policy fee. These fees along with the four months they are charging you like be the reason.

 

[djs]

Companies also frequently have a minimum earned premium to issue a policy. Add this to the policy fees and other charges, it probably isn't to far off.

I would call and ask the carrier why the refund wasn't prorated. They will explain why they did a short rate cancelation. If they explain it, probably not much more you can do.

Dan

 

[best14rates]

CFM has a policy fee and that is not refundable And I have written with CFM not sure what your dog issue was but your agent should of been able to fix that issue quite easily they will accept dog providing your agent talks to the underwriters. I write with them and many other carriers here in Montana the key is to find a agent that will work with you this issue.
If you are not happy with your refund you can contact the state insurance commissioners off at 406-444-2040 They can help you with your issue that does seem like the kept a little more then I anticipated.
Hope that helps

 

[F150]

CFM has a policy fee and that is not refundable And I have written with CFM not sure what your dog issue was but your agent should of been able to fix that issue quite easily they will accept dog providing your agent talks to the underwriters. I write with them and many other carriers here in Montana the key is to find a agent that will work with you this issue.
If you are not happy with your refund you can contact the state insurance commissioners off at 406-444-2040 They can help you with your issue that does seem like the kept a little more then I anticipated.
Hope that helps

you are a little gun ho and sending them to the commisioners office.......

 

[best14rates]

The insurance commissioners office is there to HELP the insured and the agents and the carriers. I merely stated to contact the commissioners office if there is not answer they can't find with the resources they have used. If all Laws and rules are being complied by all then there should be nothing to be concerned over. So saying I was " Gun Ho" I beg to differ also I am guessing you meant to say gung ho I am in the forum to help others I am sorry If F150 was not happy with my comments but it is what it is.

 

[F150]

The insurance commissioners office is there to HELP the insured and the agents and the carriers. I merely stated to contact the commissioners office if there is not answer they can't find with the resources they have used. If all Laws and rules are being complied by all then there should be nothing to be concerned over. So saying I was " Gun Ho" I beg to differ also I am guessing you meant to say gung ho I am in the forum to help others I am sorry If F150 was not happy with my comments but it is what it is.

and I am sure, you love it when the commissioners office contacts you often........

 

[Accelerated]

The insurance commissioners office is there to HELP the insured and the agents and the carriers. I merely stated to contact the commissioners office if there is not answer they can't find with the resources they have used. If all Laws and rules are being complied by all then there should be nothing to be concerned over. So saying I was " Gun Ho" I beg to differ also I am guessing you meant to say gung ho I am in the forum to help others I am sorry If F150 was not happy with my comments but it is what it is.

Well, just to present an alternative, you could have advised them to call the carrier that issued the refund and to ask them about it before telling them to run to the DOI, lol.

 

[best14rates]

and I am sure, you love it when the commissioners office contacts you often........

They don't contact me I contact them when needed and my door is always open anyone.