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Missouri Insurance FAQs

• Q: How Long Does A Company Have To Settle A Claim?
  A: The UNFAIR CLAIMS SETTLEMENT PRACTICES ACT gives a company 30 days to investigate a claim, with some exceptions. The insurer should provide the necessary claim forms … More
• Q: Can The Company Refuse To Renew My Auto/Homeowners Policy?
  A: Yes, a company can refuse to renew a policy for almost any reason. An insurer must give you 30 days notice and the specific reason for their refusal to renew.
• Q: I Contacted My Company About A Loss To Determine If It Was Covered Under The Policy. I Never Collected A Penny From The Insurer. Can They Record This As A Claim?
  A: Yes, all claims made are considered part of the consumer's claims experience.
• Q: What Is Actual Cash Value (Acv) Vs. Replacement Cost Coverage?
  A: All Missouri auto policies are written for ACV. Because of the generally large availability of used vehicles, auto settlement values are determined by similar vehicles … More
• Q: Can Credit History Be Used As A Reason To Non-Renew Or Refusal To Insure My Home Or Car?
  A: Yes. Current Missouri law does not prevent an insurer from doing so.
• Q: Does Missouri Control Auto And Homeowner Premium Rates?
  A: No. Missouri allows companies to set their premiums.
• Q: Can An Insurance Company Cancel My Auto Or Homeowners Policy?
  A: Yes. If an auto policy is involved, they can cancel if the consumer fails to pay the premium or if the consumer's license has been suspended or revoked during the term … More
• Q: Does The Company Have To Refund My Premium On The Auto/Homeowners Policy If I Cancel The Contract?
  A: Yes. However you may receive less than the unearned premium because the company may charge the consumer for processing the cancellation or setting up the original policy.
• Q: Do All Auto And Homeowners Policies Have A Grace Period?
  A: No, Missouri law does not require any auto policy to have a grace period.
• Q: The Company Is Not Paying Me Fairly On My Total Loss. How Do You Establish A Vehicles Value?
  A: Sources such as book value and dealer quotes can be considered. If the value is disputed by either you or the insurer based on those sources, the only accurate … More
• Q: An Auto Insurance Company Is Not Offering To Pay 100 Percent Of My Damages On A Liability Claim. Can Mdi Help?
  A: MDI has the authority to determine if the insurer conducted a complete investigation prior to making their determination of fault. The Missouri Department of Insurance … More

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