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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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