Insurance agent canceled policy on wrong date

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Goal33
Posts: 1579
Joined: Sun Apr 12, 2015 12:30 pm

Insurance agent canceled policy on wrong date

Post by Goal33 »

He was supposed to cancel it for 7/9, accidentally canceled it for 7/2. This happened on 7/8 (so I guess he canceled it back-dated).

I have a letter in the mail from my mortgage lender insurance division coming today (can tell from informed delivery), don't know what it's going to say yet. Just curious if anybody has had to deal with this situation and what will happen. I will call my insurance agent soon, I hope they will take responsibility for this.
Silk McCue
Posts: 4869
Joined: Thu Feb 25, 2016 7:11 pm

Re: Insurance agent canceled policy on wrong date

Post by Silk McCue »

You don't even know what the situation is as you have no idea what you are getting in the mail from the mortgage lender. Have you logged into your account to look for a notice or communication there?

I would have called my agent before posting here.

EDIT to add - Is it safe to assume that you had new insurance on the home in place on 7/9 and don't need to file a claim for anything?

Cheers
Last edited by Silk McCue on Fri Jul 17, 2020 1:13 pm, edited 1 time in total.
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BrandonBogle
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Re: Insurance agent canceled policy on wrong date

Post by BrandonBogle »

Assuming the policy would have originally been in place on 7/9 had nothing been done, the agent should be able to file a correct with the insurer and change the termination date to 7/9. Clerical errors happen and they should have a process for handling them.
BSBHead
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Joined: Sun Nov 11, 2018 12:45 pm

Re: Insurance agent canceled policy on wrong date

Post by BSBHead »

The insurance agent has Errors and Omissions Insurance, so shouldn’t be an issue worse case.
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Stinky
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Re: Insurance agent canceled policy on wrong date

Post by Stinky »

Goal33 wrote: Fri Jul 17, 2020 10:56 am He was supposed to cancel it for 7/9, accidentally canceled it for 7/2. This happened on 7/8 (so I guess he canceled it back-dated).

I have a letter in the mail from my mortgage lender insurance division coming today (can tell from informed delivery), don't know what it's going to say yet. Just curious if anybody has had to deal with this situation and what will happen. I will call my insurance agent soon, I hope they will take responsibility for this.
Let us know what happens when you talk to your agent.
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8foot7
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Re: Insurance agent canceled policy on wrong date

Post by 8foot7 »

This should be no issue - your agent can provide a corrected copy of insurance binder due to their error and if your mortgage company actually cares, that copy can be used to back out any force-placed insurance at no cost to you other than a bit of hassle.
Topic Author
Goal33
Posts: 1579
Joined: Sun Apr 12, 2015 12:30 pm

Re: Insurance agent canceled policy on wrong date

Post by Goal33 »

Mortgage wants proof of insurance. Provided that, starting 7/9.

I haven’t been asked to prove continuous coverage from 7/2 to 7/9.

My agent was able to open a request to change the end date from 7/2 to 7/9 for the old insurance. Not sure if I’ll need that proof, but I wanted it just in case.

They said if I get any letters they’ll get it squared away.
Silk McCue
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Joined: Thu Feb 25, 2016 7:11 pm

Re: Insurance agent canceled policy on wrong date

Post by Silk McCue »

Thanks for the update. Glad it got resolved quickly.

Cheers
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FIREchief
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Re: Insurance agent canceled policy on wrong date

Post by FIREchief »

My insurance company always requires a written/signed request from me to execute any cancellations. I'm surprised that some would act on verbal requests.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
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