Ask Experts Questions for FREE Help !
Ask
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
     
    #1

    Oct 7, 2015, 05:48 AM
    Homeowner's Insurance
    Homeowners insurance.

    If your existing policy is paid till Nov 1, 2015. And you decide to go with another carrier
    Effective on Oct 17,2015. Do you think the old insurance company will give you a prorated refund?
    talaniman's Avatar
    talaniman Posts: 54,327, Reputation: 10855
    Expert
     
    #2

    Oct 7, 2015, 06:03 AM
    I doubt they would even bother considering such a small window of time.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #3

    Oct 7, 2015, 06:55 AM
    Unlikely. Check your policy terms - the insurance policies I have experience with typically include a penalty for early cancellation, perhaps 10% of the annual premium. So unless you have at least 5 weeks or so left on the policy you won't get a refund. But again - check the terms in your policy to see for sure.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
     
    #4

    Oct 7, 2015, 07:36 AM
    Thanks
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
     
    #5

    Oct 7, 2015, 08:43 AM
    I did find it in the policy: All cancellations are granted a pro-rata return. Pro-Rated means no penalty for early cancellation.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
     
    #6

    Oct 7, 2015, 01:04 PM
    Just wait till the old policy expires.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
     
    #7

    Oct 7, 2015, 03:13 PM
    1/26 of 3000? Not a trivial amount. Why do you have to sign with the other company by the 17th?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #8

    Oct 8, 2015, 12:39 AM
    Why did you not just make the new policy effective Oct 31. You choose effective dates.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
     
    #9

    Oct 8, 2015, 01:43 AM
    It is still up in the air. Been with them 15 years. Got a nasty letter from the agent
    That was assigned to me years ago. Agent never did anything for me for the last 15 years. The new insurance company is nearly $1,000 less for the same coverage.
    My existing policy expires Nov 6,2015. My new insurance carrier just requires a wind mitigation inspection, which I just completed. My existing company said the inspection would not reduced my premium of $3,265. So I am waiting to see if the new carrier will honor the quote?

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

New Homeowner's Insurance [ 4 Answers ]

We had a roof leak 9 months ago and a total re-roofing done then. Our homeowner's insurance covered the water damage in one of our rooms. Recently we had another roof leak in same spot on roof that caused water damage in same room! Our Homeowner's Insurance is going after the roofer to pay for...

Homeowner's Insurance [ 4 Answers ]

Does the insurance company penalize for claims filed and paid but homeowner never has work performed?

Homeowner Insurance [ 15 Answers ]

Neighbor occasionally baby sits in her own home. She has homeowners Insurance. I often wonder if the child got hurt under her care, would the insurance cover it. Or is there a separate policy she should get.

New roof through homeowner insurance [ 3 Answers ]

We have a tin roof over 30 years old. The ceiling is leaking in 3 rooms and 2 hallways in our house. Will insurance cover a new roof?

HomeOwner's insurance claim [ 4 Answers ]

Mom's property has had no mortgage due on it for a # of years. Recently there was catastrophic damage from water and frozen pipes. Insurance company paid her directly. The question was asked of the insurance company if she has to repair the house or can she sell it. The response was that 'the...


View more questions Search