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.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact an attorney in your area from our directory to discuss your specific legal situation.