Auto Insurance FAQ
Homeowners Insurance FAQ
I Paid My Homeowners Insurance For The Year, What Happens If I Change To A Different Company Before It Renews?
If you paid your insurance for the year, and decide to change home insurance providers before the policy renews, the insurance company must REFUND you for any UN-EARNED Premium.
- Home Insurance Premium = $1,200 ($100 Per Month)
- You Cancel After Exactly 6 Months Of Coverage
- The Total Earned Premium = $600 (6 Months X $100 Per Month)
- Your Refund = $600
Yes – Although your Homeowners Insurance Premium is paid via the escrow on your mortgage, you can change home insurance companies at any time your wish.
You must notify your mortgage company of the change and have your new insurance provider send the lender proof of your new insurance.