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What is the Timeframe of Receiving an Insurance Premium Refund?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 02/01/2012

Any insurance premium refund taking more than 10 business days should be acted on.

When you cancel your insurance policy, an insurance premium refund should be processed in the insurance company’s billing system immediately. It may not be actually processed and mailed until the next day, but the request itself is done as soon as you request the cancellation.

After the company gets the refund in the mail, it can take 7 to 10 business days to get to you through the mail. This is not the insurance company’s fault; you can blame this one on the postal service.

After 10 business days (remember don’t count the weekends) if you still have not received your check, call the insurance company for the status. You can always ask for a replacement check, but be cautious. If you ask for a replacement check, the original check will be cancelled when a new check is sent to you. So, if the original insurance premium refund check does end up showing up a couple days later, it will not be any good.

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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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