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Car Insurance Refund Checks Earlier this year, residents in Michigan were awarded $400 in car insurance refund payments due to a surplus in profits recorded by state insurance agencies.
If I cancel my auto insurance, will I get a refund? If you paid your premium in advance and cancel your policy before the end of the term, the insurance company might refund the remaining balance.
The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
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