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Back Dating and Insurance Premium

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 11/25/2015

Can you get an insurance premium refund for a vehicle removed in the past?

Question: 2 yrs ago I scrapped my vehicle but still kept the paying for the insurance. I thought I needed if I would drive another vehicle and so I wouldn’t have a lapse which would result in a higher premium later. If I go to my insurance company and cancel the coverage, how far will they pro rate my payments to. Can I get a refund for the full 2 yrs Thank You!

Answer: Great question!  There are a number of things to address with this though.

First, were there other vehicles on your policy at the time? If there were then you are not going to be able to get a refund on the whole premium.

Second, if that was your only vehicle and you have not owned it then you should be able to get a refund back to the time you stopped owning it.  However, you are going to get push back from your insurance company about this and you are going to have to provide proof of the date you stopped owning the vehicle. Also state laws may favor your insurance company in regards to having to have continuous coverage or there being a certain time limit in which you needed to report to your insurance company that you no longer needed to insure that vehicle.

The only way you will know for sure is to call and talk to your insurance company.

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Michele Wilmonen

Michele’s first introduction to insurance was working for a major insurance company as a file clerk and a mailroom supervisor in a regional office. She learned insurance directly from underwriters and claims adjusters from questions and also watching them do their job. Since then, she’s earned a number of insurance certifications from the Insurance Institute of America and also a Bachelor’s degree from the University of Idaho. She blogs at Car Insurance Guidebook.

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