Premium Payments
No, Under no circumstances may an insurer or agent thereof intentionally keep your unearned premium payment. This would be a violation of the agents fuduciary obligations to the insured and if reported will probably cost them their license to do business in your state. However, if there was an outstanding balance due on your previous policy, then they are allowed to accept and apply that payment to the balance owed.
Insurance Agent's Entitlement to Money
Is this a payment that was applied before renewal was up, or the actual renewal payment? If the agent took your renewal payment and did not renew your policy, then you need to contact the department of insurance in your state. That would be illegal.
First answer by ID402680137. Last edit by Insurance Plus. Contributor trust: 241 [recommend contributor]. Question popularity: 158 [recommend question]
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