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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 886575  
Subject: Re: Not paying a car ins bill / credit score fal Date: 10/1/2012 11:48 AM
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i owe 300 bucks to liberty mutual according to the bill i got -- but am getting back 70 dollars????

I did the same thing for MC insurance. I owe progressive 160 bucks but just cancelled and got Geico and am getting money back again -- which I don't understand.


With insurance, you pay at the beginning of the insured period. In other words, you would pay your premium by day 1 of your next 6 months of coverage if you are paying semi-annually. You likely received money back because you cancelled your insurance before the premium period had ended. You are receiving a prorated amount for the portion of the insured period that you did not use.
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