QuestionHello and thanks for being here to ask this question. I bought a new Ford
truck in October of 2003, I sold it in July of 2004. When I sold it my (former)
secretary did not notify the insurance company that it was sold. Unfortunately
I did not review my policy very regularly or thorughly. The policy continued to
be paid through today and no one caught that there was an extra vehicle on
the policy. In short I paid for insurance for 2 1/2 years after I sold the car.
My question is: Is the insurance company required to refund the amount I
over paid? I did get proof of when it was sold from the DMV but the insurance
company will only refund me from this past December until now which is only
3 months. I discovered the problem in December when I was renewing my
policy and told the agent then. Now they won't go back to when I sold the car.
They took my payment. Do I have any recourse? I know you are probably
busy but if you could let me know as soon as you can I would appreciate it. I
just wrote the agent a check today for $1.100 and I am tempted to stop
payment on it and switch companies. I would like to know my options before I
take that route.
AnswerHi Mark,
The laws on this subject are different from state to state and may also be governed by the terms of your specific policy.
The best source I can think of for assistance in this matter is to contact your state Insurance Commissioners Office. They are the agency that regulates insurance companies. You may have to file a formal written complaint against the insurer in order to get an answer.
I hope this helps
Richard Hixenbaugh
