Premium Refunds

If the insurance company cancels your property/casualty policy, you may be entitled to a refund of all the premium you have paid that was intended to pay for coverage in the remainder of the policy period. If you cancel your property/casualty insurance policy, the insurance company may, by law, retain a cancellation fee of up to 7.5% of the amount that they would otherwise have to return to you. This cancellation fee (if any) must be clearly disclosed in your insurance policy. If you have agreed to pay a minimum earned premium or a fully earned policy fee (which is shown on your application), your company will not refund these amounts to you.