You cancelled or switched. Where is your refund?
When a policy ends early, the part of the premium you paid for time you will not use is called the unearned premium, and it comes back to you. Florida sets deadlines for that refund. They differ for car and home policies, and a premium finance plan changes who gets paid first.
The deadlines, by type of policy
Car insurance, F.S. 627.7283: if you cancel, the insurer must mail or electronically transfer the unearned premium within 30 days after the cancellation takes effect or after it receives your request, whichever is later. If the insurer cancels, it has 15 days. A late refund carries 8 percent interest. Home and other property policies, Florida Administrative Code rule 69O-167.001: unless the policy says otherwise, the refund is mailed within 15 working days after the cancellation takes effect, judged by the postmark.
How to get it moving
Get the cancellation date in writing
Every deadline runs from the date the cancellation takes effect. Ask for written confirmation of that date when you cancel.
Check whether the premium was financed
If you paid through a premium finance plan, the refund goes to the finance company first, to pay off what is still owed, and any remainder goes to the agent or to you. Under F.S. 627.848 the insurer has 30 days to do that and to tell you how much went where. The finance company then has 15 days to refund an overpayment, and an agent who receives it has 15 days to pass it on.
Read the policy's own cancellation terms
The property rule applies unless the contract provides otherwise, so the cancellation section of your policy is worth reading before you write.
Ask in writing, with the dates
A short letter or email giving the policy number, the cancellation date and the deadline that applies is harder to ignore than a phone call.
If the deadline passes, go to the state
The Department of Financial Services, Division of Consumer Services, takes complaints against insurers at myfloridacfo.com.
How much should come back
For car insurance, F.S. 627.7283 sets the amount. Refunds are worked out pro rata, by the days left on the policy. If you cancel, the insurer may keep up to 10 percent of the unearned premium; if the insurer cancels, it refunds all of it. For property policies, the amount follows the policy's own cancellation terms, so the policy is the place to check.
Servicemembers get the full amount back
Under F.S. 627.7283(5), a servicemember who cancels a car policy because of active duty, or a transfer to a place where the insurance is not required, gets 100 percent of the unearned premium back.
Do not cancel the old policy before the new one starts
A gap of even one day leaves the house or the car uninsured for that day. Set the cancellation date to the day the new policy begins.
Very small amounts
Under rule 69O-167.001, an insurer need not return a property refund of $5 or less unless you ask for it. If you ask, it is owed.
What this touches
Questions people actually ask
How long does an insurer have to refund my premium in Florida?
For car insurance, 30 days after you cancel, or 15 days after the insurer cancels, under F.S. 627.7283. For property policies, 15 working days after the cancellation takes effect, under rule 69O-167.001, unless the policy says otherwise.
Can the insurer keep part of my car insurance refund?
If you cancel, up to 10 percent of the unearned premium. If the insurer cancels, it must refund all of it.
My refund went to my agent. Is that allowed?
On a financed policy, yes: what is left after the finance company is paid can go to the agent for your benefit. Under F.S. 627.848 the agent then has 15 days to return it to you.
Where can I complain about a late refund?
The Florida Department of Financial Services, Division of Consumer Services, at myfloridacfo.com.
Other situations
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