What would you like to do?
Is there really an outstanding balance? Did the company give you insurance beyond any grace period for some sort of promise-to-pay? If not, there should be nothing owed to the old company, and you could probably get re-instated with them. A new company will cover you as soon as you pay their first premium.
74 people found this useful
Was this answer useful?
Thanks for the feedback!
Can you cancel your auto insurance midway through the term if you can get a better rate from another company?
One can switch over to another company to get a better rate but not in the midway but only at the time of renewal of the policy, under Portability clause. Check with the ins…urance company; they will most likely pro-rate and you may end up with some money back.
If within a few months of getting insurance you are diagnosed with hepatitis C and need a liver transplant can the insurance company cancel your policy?
No - an insurance company cannot cancel your policy or refuse to pay the claim, unless it can be proven that you were aware of this prior to obtaining the new insurance. They …also cannot raise your premiums unless they raise everyone in your healthpool rates as well. A healthpool is a group of individuals who are in the same age range and insurance rating as you.
Will the insurance company pay for damages if your policy was canceled four days after you got the policy?
Answer They will if your policy was in force during your loss.
Answer from a General Agent Yes they can. But they will have to refund any unearned premium to you. Each state has it's own regulations that determine how and when the …Insurance Company can cancel a policy and most companies stricltly adhere to the regulations. IE, Fraud or Misreprentation on the Insurance Application. Claims within the first 60 days of a policy, Undisclosed drivers, Undisclosed accidents or tickets, Failure to fully disclose a risk, etc.
Does insurance money that has a beneficiary have to be used to pay outstanding credt card balances when you die?
Money is fungible The answer depends on the state of jurisdiction ... in which locale will the decedent's estate be probated? In Ohio, for example (and in most s…tates), courts cannot require that an insurance company make a check payable to anyone but the policy's beneficiary. Since the beneficiary who is not a co-signer of the debt is not responsible for the debt, the creditor will not be able to recover money from insurance proceeds. Keep in mind, however, that any other assets owned by the decedent are available to settle the decedent's just debts, and insurance beneficiaries who also inherit other assets of any value (the gold watch, the baseball card collection) can be forced to liquidate those assets to satisfy the decedent's estate ... and that heir might rather give up some cash received from an insurance policy so he/she can keep dear old dad's gold cuff links.
When a car is totaled with a balance owed to the finance company and there is no car insurance is is possible the finance company will give another loan and consilidate the payments?
Yes on certain conditions. The first is that the amount still owed to the financial institution is not greater than the maximum amount allowed on the new vehicle being purchas…ed. what i mean is if you were to buy a 06 Taurus for 10,990 and you still owed 26,000 on your previous vehicle the financing institution would not allow you to buy a Taurus for 37,000 plus, so if you don't owe much and your credit is good enough you should be fine!
Insurance Cancel An insurance company can cancel you anytime they want to as long as they have a legitimate reason to do so, and they are required BY LAW to send you WRITTEN N…OTICE to advise you of any cancellation should one occur. This not does not apply to monthly bill statements because within the bill statement it says that your policy will cancel should they not receive a payment. This is the most common reason for cancellations, when people don't pay their monthly insurance bill. Another reason you may be cancelled the company can consider you high risk. If you hve had too many accidents or have have made too many claims with a certain time period, they can cancel you because they feel it would actually cost them more to insure you versus insurance premiums you would pay to them. Finally, you can be cancelled for fraudulent reasons. If you lied on a claim, mileage at time of policy issue, or just cheated the insurance for whatever reason, they can cancel you. Also, if the offense is serious enough, you can be sued or possibly prosecuted.
Doubt that you can, insurance companies cannot simply cancel a policy for no reason, if you feel you have been unjustly concancelled contact your states dept of insurance and …file a complaint.
This vary from state to state. For the most part, the only time an insurance company actually 'cancel' your policy, there has to be a very valid reason..for example, the… insured withholding information or committing fraud. Otherwise, most companies take a less severe method by non-renewing. Doing this, they provide the consumer with an advance notice to not renew the policy. The consumer is provided with ample time to secure coverage elsewhere.
No, No insurance company in America would cancel your policy simply because you have experienced a disaster or have a catastrophe pending. However, If you have missed your p…remium payment, your renewal or have a non-renewal notice pending, the mentioned pending catastrophe would have no effect on your expire date or cancel date. So if your policy has been cancelled or non-renewed, a pending catastrophe will not nullify the policy cancellation or expiration. In simpler terms. The company will not postpone or move your cancel or expire date due to a impending catastrophe. but they also can not cancel your policy just because a catastrophe is on the way. Answer I am only licensed in Virginia, so my answers are directly for Virginia only. But, this may help. Your policy cannot be cancelled due to claims. However, your policy can be "non-renewed" for claims. Even in a catastrophe. In either case, the claim would be paid assuming there are no other problems like lying on an application/fraud. Lastly, each admitted company in Virginia is required to state their requirements for the insureds and their premium calculators(underwriting/actuary) to the state. So, your premiums and reasons for cancellation/non-renewal are set ahead of time. This is a contract which cannot be changed mid-term without cause. So, your insurance cannot be changed, altered, or cancelled without a reason.
An insurance company can cancel your coverage for any number of reasons, all of which would need to be laid out in the policy (contract) that you signed with them upfront. T…he most common reason that a company would cancel your insurance would be for nonpayment. Other than that, you are probably safe unless you lied about something on the application.
The initial action that may occur to the consumer is merely to go to another insurer. However, that may be am overly simplistic approach. Most states have statutes (laws) th…at delineate the circumstances under which an auto insurer may decline to renew ("drop") an existing insured. One of these includes that the insurer makes a business decision to no longer write insurance in the state. However, terminating policies for that reason is a fairly lengthy process and requires regulatory approval. Most states have consumer protection laws as part of their Insurance Codes that define and delimit the types of offenses for which an insured may be canceled (if found guilty). More likely, at least for a first offense, the result will be a premium increase. Additionally, the circumstances under which an insured may be "dropped" must be part of the underwriting guidelines that the insured files and must get approved as part of it application to transact insurance business in the state. Admittedly, though, some states are more/less consumer friendly than others. It is important that the person whose insurance has been canceled move quickly to replace it. This is because motor vehicle authorities track cancellations and, if due to a cancellation, the persons is no longer in compliance with the state's Financial Responsibility Law which requires the maintenance of auto insurance, his/her license/tags may be suspended until the insurance is replaced. For replacing you can check a comparisson site like this one where you can get free quotes from different companies
Base on state regulations, there are many reasons a company can cancel an insurance policy. If you paid for a year and they cancel you after 1 month, you will only be charge…d for 1 month of coverage and the other portion should be refunded to you.
Yes! They can charge you a cancellation fee that is either a flat rate or is a percentage of your total annual premium calculated based on when you cancel. Lots of insurance c…ompanies do this although some only charge you to cancel within the first year
If you are providing baby sitting or day care services without theproper licensing and insurance then yes, your home insuranceprovider could decide that you are a moral hazard… or that theservices you provide from home simply increase your risk beyondwhat the company is willing to accept. Generally, If you show your home insurer a copy of the commercialinsurance policy that covers your day care operations, your companywill not cancel your house insurance. Basically the baby sitting is a business, a parent could decide tofile an injury claim or a suit, Your personal lines home insurancepolicy is not designed to provide that type of coverage.
Yes if you made a false statement to them when taking out the policy.
Is the insurance company responsible to pay for damages if a month after the accident you cancell the policy?
Yes, as long as coverage is in place on the date of the incident.