I had to cancel a couple of insurance policies recently. I had been with the same local insurance broker for 11 years, but I had recently been reassigned to a new agent, with no notice. After a few interactions with this new agent, it was obvious that he was not up to the job. Time to move on.
I had to cancel a policy with Progressive, that the previous agent had written for me several years ago. I had zero claims with Progressive.
First, they charged me for 10% of the unused portion of the policy. Basically, 10% for doing nothing, and providing nothing. Then they charged me an addtional $10 for "policy fees". After all of these imaginary fees, they then prorated out the coverage, for each day that they'd provided coverage to me.
On the other policies, from a different company, they calculated the daily rate for coverage, multiplied it by the number of days that they had provided coverage, and refunded the remainder. No keeping 10% for doing nothing, and no policy fees.
Honestly, I'm not surprised with Progressive. I suspected that they could have the potential for some sleazy business practices if given the chance, and I was correct. Even though it cost me some money, I'm glad that we parted ways when we did.
I had to cancel a policy with Progressive, that the previous agent had written for me several years ago. I had zero claims with Progressive.
First, they charged me for 10% of the unused portion of the policy. Basically, 10% for doing nothing, and providing nothing. Then they charged me an addtional $10 for "policy fees". After all of these imaginary fees, they then prorated out the coverage, for each day that they'd provided coverage to me.
On the other policies, from a different company, they calculated the daily rate for coverage, multiplied it by the number of days that they had provided coverage, and refunded the remainder. No keeping 10% for doing nothing, and no policy fees.
Honestly, I'm not surprised with Progressive. I suspected that they could have the potential for some sleazy business practices if given the chance, and I was correct. Even though it cost me some money, I'm glad that we parted ways when we did.