While there are generally asked questions about car insurance, policyholders have their personal questions regarding their policy. What could even sometimes be funny is that most of us think that we already know every thing about our policy; it is only until an accident takes place that we realize there are still certain things that we cannot find the answers to. Below are some questions insurers have had and might even be the same questions you have had in the past.
Is it a requirement for an insurance company to notify a policyholder should they decide to cancel their policy?
Of course, they are required to do so. An insurance company should notify its client at least twenty days before the cancellation affectivity date. While it is no longer required to certify or register the notice, a receipt from the post office is sufficient.
In case I received a cancellation notice, what should I do next?
If the reason for the cancellation is due to non-payment of your premium, then you should pay for your premium as soon as possible before the cancellation takes effect. But if you have all the knowledge to think that the cancellation is unjustifiably done, then an appeal can be made to the appropriate committee or commission. You should take some action before the affectivity date written indicated in the notice.
Will it be my insurance company or I, to shoulder the storage charges for a damaged car still in dispute?
It will be your insurance company absorbing the storage charges until such time that the dispute has been settled. Disputes over claims are completed following the same processes, which are stated in the insurance policy. If disputes aren’t settled, submitting a written complaint to the Division of Insurance may help resolve the issue.
Is a down payment really required upon purchase or renewal of the car insurance policy? Can’t I just make a monthly premium payment?
This actually depends on your insurance company. Some providers ask for up to 30% down payment on the yearly premium before you can renew your policy. There are also a lot of companies who offer an installment scheme for the premium. Refer to your provider and review other available/alternative options.
Don’t feel embarrassed asking questions regarding your policy, as a customer, it is your right to know and have the answers you need.
