Anyone Cancel A Policy W/ Infinity?
06-26-2010, 03:38 PM
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Anyone Cancel A Policy W/ Infinity?
I got the S and hopped on Infinity Auto Insurance (Don't ask why). I did some searching and before the first month of being with them I decided to go with Geico because it was about $130/month cheaper than Infinity.
I called Infinity and asked to cancel my policy and they asked me to fax them proof of insurance from another company or they wouldn't do it; that's fine, expected, and I faxed over my Geico papers with my Infinity policy number written on it asking to cancel my policy. Voila, cancelled.
Few days later I get a text message from my bank to tell me I'm over-withdrawn (Mind you, it's usually at like $5.00 tops since I don't really use my bank, I'm more of a cash establishment). I hop online and check and it was Infinity trying to charge me. I just got off the phone with them, I called to make sure that they got the papers and that my policy was cancelled. The lady told me it was being cancelled because I hadn't paid (No, but whatever, the point is that it should be cancelled.) SO! I wait on the phone for about 20 minutes while she types up a storm and finally she goes: "Okay, it's all set and done now, it's cancelled. You still owe us $387.50" which is impossible, because I paid the first month and cancelled before the second month even started...
Anyway, I go on to explain that I never even went into the second month and that it's impossible I owe them that much money. I also explained that the lady I got the insurance from told me there was no cancellation fee. Well, the Infinity customer service rep. tells me: "It's not a cancellation fee, we charge 10% of what we would have made if the policy hadn't been cancelled."
Is that even legal? I've cancelled many an insurance policy and NEVER have I had someone tell me that. That's more than what they were charging me monthly... Now I'm all for paying my insurance, but if you're not insuring me, I'm not paying you. Has anyone had this issue? Apparently it's only in Florida? I called Geico and they don't do that... Not even in Florida.
Any help would be awesome guys, thank you.
Also, I got the 800 number to the Florida Insurance blah, blah whatever, whoever regulates and deals with the laws and what not so I'll be calling them on Monday for sure.
06-27-2010, 05:11 AM
#2
For example in Florida the FL Department of Financial Services states that a policyholder may cancel their policy at any time following the first 60 days (except under certain exceptions listed below) after its effective date by notifying your company in writing. If they do so, the insurance company may charge the driver a 10 percent penalty on their returned premium.
In Florida you cannot cancel your policy during the first 60 days unless you can provide proof of the following:
the vehicle is totally destroyed,
you sold the vehicle or
you obtained coverage with another company
In Florida you cannot cancel your policy during the first 60 days unless you can provide proof of the following:
the vehicle is totally destroyed,
you sold the vehicle or
you obtained coverage with another company
Infinity can charge that 10% fee.
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