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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 companies do this although some only charge you to cancel within the first year

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βˆ™ 2011-02-26 03:30:28
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Josh Whirl

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βˆ™ 2021-05-07 22:36:32
What gives company’s these rights.
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Josh Whirl

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βˆ™ 2021-05-07 22:35:53

What gives company’s these rights.

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Q: Can the insurance company charge you to cancel your insurance?
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If you ask your insurance company to cancel your policy, they will.


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Sure, you can. The insurance company should pay you a pro-rated refund after you cancel the policy.


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Lack of payment or too many collisions the insurance company has to pay for. If you want to cancel your auto insurance policy to go with another company, call your insurance company and tell them you want to cancel your insurance but be ready for them to try to persuade you to stay.


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Can a mortgage bank or company cancel your homeowners insurance with a private company?

What do you mean "private company" If you have HO insurance the bank can not canel it. Only you can.


Can you stop a term life insurance policy?

Yes, you can. Call the life insurance company and cancel the policy.


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Can insurance cancel your insurance after they have taken payment?

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. The 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.


Can an insurance company charge inflation rates?

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No, the insurance company will not cancel your insurance for having three accidents, but they will increase your insurance premium.


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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 charged for 1 month of coverage and the other portion should be refunded to you.


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