Car Insurance Refund: How do you get a refund on car insurance?

In the event you decide to voluntarily cancel your car insurance policy, you should be entitled to a refund, depending on the contract you have signed with the insurer.

The amount you will receive generally depends on how long you have been insured for.

However, some insurance companies in the USA have set certain fees to be paid in case of early cancellations.

For example, most of the auto insurers allow you to cancel your premium within two weeks after contracting the policy without getting charged.

How much money can you get with a car insurance refund?

The majority of policies cover half a year of insurance. In this case, you should be expected to receive most of the amount you have paid.

If you cancel an insurance for which you have paid 300 dollars after 30 days, you should receive around 250 dollars.

To cancel your policy, you may just need to send the insurer a written notice or a short statement to make clear that you cancelled your insurance.

Just make sure before you cancel your coverage that who have already contracted a new insurance provider in order to avoid not being covered in the meantime.

What happens if the insurer cancels a car insurance policy?

This is a different case, as insurers mainly cancel policies in the event their client has somehow violated the terms of the contract.

In the event the driver is charged with driving under the influence, or receiving many tickets, a company could put an end to the deal between the two parties after sending a notice to the client.

It has to be noted that, in this case, the company may not refund the client who breached the contract.

Your premium may specifically state that you are not entitled to a refund in the event that the company cancels the policy.

This means that you should carefully read the small print before you put pet to paper on a contract with an insurer.