State laws can determine if a fee is allowable and if so it is up to the.

Will i get a refund if i cancel my car insurance. If you are entitled to a refund your insurance agent or company will inform you of that at the time of cancellation. Your car has been stolen - Hopefully it will never happen to you. For example if you have a 1-year policy with a premium of 1000 that has been fully paid to the insurance company and you wish to cancel 200 days into the year you will have 165 days remaining on your policy.

If you cancel after the cooling-off period youll be refunded a pro rata amount ie. You have 21 days from when your policy begins or is renewed to change your mind. Receiving an insurance refund will largely depend on why youre canceling the policy and how much of the premium you paid in advance.

Can you get a refund on car insurance. The refund amount will depend on the auto insurance companys refund policies --. Your refund or return premium would be calculated as 165 days divided by 365 days in a year times 1000 resulting in a return premium of 45205.

If no claims have been made and you cancel within 14 days of receiving your policy documents you will be entitled to a refund with a deduction for the time you were covered for. Fortnightly or monthly any premium still owing at the time of cancellation must be paid to us. When you take out a car insurance policy you have whats called a 14-day cooling-off period during which you can cancel.

Your broker can help you determine what estate documentation youll need to cancel the insurance make changes to the policy or transfer ownership of the vehicle. This is called your rescission right. In this case its better to take care of cancellation over the phone so that you can verify whether or not youre entitled to a refund.

Take a look at your policy for details. Determining your insurance needs. Also most policies reserve the right to charge an administration fee which can be quite high.