Why Is The Insurance Company Not Returning All Of My Premium?

Depending on the type of policy, you may be required to pay a minimum premium, or the premium may be fully "earned." In other instances, if you replaced your coverage with a different company, during the policy term, you may be subject to a "short­rate" penalty, which is usually about 10% of the unearned amount. You might also have some premium due for recent changes in coverage. The company should be able to provide a detailed billing history that explains the return­premium calculation.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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