If Progressive owes you a refund, you should receive it in the same method you used to pay your premium. Credit card transactions should only take two to three business days to be refunded after you cancel coverage. On the other hand, if you paid with a check, it could take up to 12 business days to receive your refund. If you decide to cancel your policy or your insurance company cancels it, you usually won't receive a refund from car insurance unless you've paid the premium in advance.
For example, let's say your policy term is 12 months and you pay the full year's premium in advance. If you cancel your policy after just three months, your insurer will issue an insurance refund for the remaining nine months. On average, you should prepare to wait 2 to 4 weeks for an insurance company to reimburse your premium. So you have your car insurance with Progressive? superb.
Wait, do you need to cancel it and get a refund? Safe thing. That's one of the best things about Progressive, they promise seamless cancellations and offer a lot of methods. How long the process takes depends on how you cancel, and who doesn't want to take the most efficient route? It generally takes one to four weeks to receive a refund from Progressive. Like any insurance company, Progressive Insurance must follow state guidelines in all businesses.
This includes how your customers can cancel their policies. You may be able to do this online, by phone, in person, or by mail. The only way to know is to sign in to your account and look for all the cancellation options. If you see a cancellation option online, it means that you live in a state that allows it.
If you have trouble finding your cancellation options, please contact Progressive directly. They can help you find the most effective option and will tell you what information you need to cancel. If you prefer to send your cancellation request by mail, Progressive has a document that you can download and send by mail, or you can use your own document. Some necessary information generally includes your name, policy number, date of birth and social security number, date and time you want your policy to end.
Finally, if your state's Department of Insurance has issued an order requiring greater flexibility than the measures explained here, Farmers Insurance will comply with that directive. The mission of The Truth About Insurance is to provide unbiased and objective insurance advice and advice to consumers on a variety of topics, ranging from car insurance coverage to health care and more. If you sell your car and buy a new one, you'll still need coverage because most states require drivers to have car insurance. GetHuman has been working for over 10 years on sourcing information about big organizations like Progressive Insurance in order to help customers resolve customer service issues faster.
Gap insurance covers the “gap” between what you owe for your car loan or lease and the depreciated value of your car if it adds to an issue covered by your policy, such as a car accident. If your car is considered a total loss and your expense insurance coverage covers the difference between what you owe for your car loan or lease and the actual cash value of the car, you won't be entitled to a refund for the remaining period of your policy. If the insurance company cancels your policy, you'll normally get a refund from car insurance, unless they cancel the policy for non-payment. In this time of need, many states and insurance companies are acting quickly to help insurance customers alleviate some of their immediate financial burden.
An expiration in insurance can end up costing you a lot of money and even result in the suspension of your license if you are caught driving without car insurance coverage. If you crash your car while the principal balance of your auto loan remains high, you may owe the lender the difference between the loan balance and the payment of the car insurance claim. If you change your car insurance company and find better rates with a different insurer, you may want to cancel your current policy before it expires. If you've already paid for the additional expense insurance, you can cancel it and request a refund from your car insurance company for any unused portion of the coverage.
Insurance refunds are generally issued through the same payment method that you use to pay for your insurance. If you didn't make this move long before your policy was renewed, or even during the middle of the policy term, your old insurer will owe you the amount you overpaid for their “too expensive” insurance. .