Refund Policy

When you cancel an insurance policy, you are typically eligible for a refund of the “unearned premium,” which is the portion of your premium that covers the time period you haven’t yet used, calculated based on the insurance company’s policy and the date of cancellation; however, services like a Motor Vehicle Report (MVR) are usually non-refundable, even if you cancel your policy. e

Key points about insurance policy cancellation refunds:

Prorated refund:

Most insurance companies will prorate your refund based on the number of days your policy was active, meaning you’ll receive a larger refund if you cancel early in your policy term.

No refund for certain services:

Services like MVR checks, which are required to obtain your driving record and policy endorsement to make changes to a policy, represent a separate cost for accessing that information. 

Check your policy details:

Always consult your specific insurance policy to understand the exact refund policy and any applicable fees associated with cancellation.