Sold house, notify insurance company but they did not retract, cause me to lose reimbursement, what are my rights?
We sold our house a year ago in Montana. I contacted the insurance company during office hours to annul the policy, noone answered, so I left a message. I thought that it had be taken care of. In their notes they said they call me back but noone answered. Noone ever tried again, left a message or mail me anything requesting written notification. The title company told us upon closing that the escrow bill on our closing costs was for backpayments. Even though I thought we had be paying things in advance beside the escrow, but didn't totally understand how the mortgage company managed it, so we trusted the closing agent. Now I newly recieved a renewal request from the insurance company. I contacted them and they said the insurance had been rewarded for the last year (during which time I did not own the house). Also, I was supposed to provide written notification to the insurance company. So apparently I be eligible for a refund but they are telling me I can't immediately recieve one since it has been too long. How could this possibly be permitted? To withhold funds that were paid to insure a house that I did not own.
Answers:
I am not an attorney but it seems like within court you would probably lose.
What you should do is contact the State Office which supervises
insurance companies. It might be the Attorney General or Montana
may have their own commission. File a formal complaint. The State
will probably notify the insurance company that they have a abiding
time to resolve the complaint or the State will investigate further. The
company might decide to issue the refund to procure you to go away.
Good Luck
That's incorrect. If you provide a copy of the closing statement showing the date you sold the house they are required to cancel the policy effective the public sale date or at the very least the end renewal date and refund the money. I'd push for a refund rear to the date of sale.
Ask to speak to a supervisor, and if they are still telling you that contact your state's department of insurance for assistance. Source(s): 15 years as an insurance agent.
you must contact your insurance company and sort situation cordially Source(s): http://www.insuranceplan4u.com
Susan D, Home insurance is actually greatly flexible. I'm not familiar with adjectives the fine print of my homeowners policy, but my home insurance agent is always helpful. Try visting your agent or a agent contained by your area. http://www.easyhomeinsuranceguide.com They will be able to assist you.
The one and only way to cancel an insurance policy is contained by writing, signed by ALL named insureds. What you need to do is dispatch a letter stating you wish to stop the policy on the day after the closing (you need to enjoy coverage through the closing time & since all policies expire at 12:01 am - one minute after midnight), you would cancel efficient the next day. Send your memo with all the policy information, company, policy # and significant dates (the dates that the termination falls within), your name(s) and current address and the sold property address. Send with proof of sale (this is required to overthrow any policy back more than 30 days).
This should take caution of the cancellation. Expect the process to take around 30 days (to get the notice of the cancelled policy) and it may filch another 1-2 weeks to get the refund check.
Source(s): Insurance agent
take a copy of your HUD to the agency and sign a cancellation eff the date you sold the home. they can fax to the company to annul back to the date of sale and return with your refund. be sure they have a forwarding address to dispatch the refund to. when you called the agency and not a soul answered i find it hard to believe they do not have a message contraption that states "you cannot bind, change, or cancel insurance by disappearing a message" or something to that effect. EVERY agency I know has this. It is NOT your agents responsibility to track you down, you should have followed up on this and not of late assumed it was taken care of. You can return with your money back no problem....don't worry. Source(s): agent
If you can prove beside documentation that the house was sold, send written become aware of directly to the insurance COMPANY, not the agent. This happens all the time and the company should backdate the contradiction and refund your money. If not, contact the insurance department in your state and folder a complaint. Source(s): Insurance Agency Owner for almost thirty years!
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Answers:
I am not an attorney but it seems like within court you would probably lose.
What you should do is contact the State Office which supervises
insurance companies. It might be the Attorney General or Montana
may have their own commission. File a formal complaint. The State
will probably notify the insurance company that they have a abiding
time to resolve the complaint or the State will investigate further. The
company might decide to issue the refund to procure you to go away.
Good Luck
That's incorrect. If you provide a copy of the closing statement showing the date you sold the house they are required to cancel the policy effective the public sale date or at the very least the end renewal date and refund the money. I'd push for a refund rear to the date of sale.
Ask to speak to a supervisor, and if they are still telling you that contact your state's department of insurance for assistance. Source(s): 15 years as an insurance agent.
you must contact your insurance company and sort situation cordially Source(s): http://www.insuranceplan4u.com
Susan D, Home insurance is actually greatly flexible. I'm not familiar with adjectives the fine print of my homeowners policy, but my home insurance agent is always helpful. Try visting your agent or a agent contained by your area. http://www.easyhomeinsuranceguide.com They will be able to assist you.
The one and only way to cancel an insurance policy is contained by writing, signed by ALL named insureds. What you need to do is dispatch a letter stating you wish to stop the policy on the day after the closing (you need to enjoy coverage through the closing time & since all policies expire at 12:01 am - one minute after midnight), you would cancel efficient the next day. Send your memo with all the policy information, company, policy # and significant dates (the dates that the termination falls within), your name(s) and current address and the sold property address. Send with proof of sale (this is required to overthrow any policy back more than 30 days).
This should take caution of the cancellation. Expect the process to take around 30 days (to get the notice of the cancelled policy) and it may filch another 1-2 weeks to get the refund check.
Source(s): Insurance agent
take a copy of your HUD to the agency and sign a cancellation eff the date you sold the home. they can fax to the company to annul back to the date of sale and return with your refund. be sure they have a forwarding address to dispatch the refund to. when you called the agency and not a soul answered i find it hard to believe they do not have a message contraption that states "you cannot bind, change, or cancel insurance by disappearing a message" or something to that effect. EVERY agency I know has this. It is NOT your agents responsibility to track you down, you should have followed up on this and not of late assumed it was taken care of. You can return with your money back no problem....don't worry. Source(s): agent
If you can prove beside documentation that the house was sold, send written become aware of directly to the insurance COMPANY, not the agent. This happens all the time and the company should backdate the contradiction and refund your money. If not, contact the insurance department in your state and folder a complaint. Source(s): Insurance Agency Owner for almost thirty years!
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