You can receive a refund ONLY IF there is time left on your policy.
Insureds are due back any unearned premium that insurance companies do not use. The premium is earned when then insurance company indemnifies you for the policy period.
So, if you cancel your policy before the end of the policy period, then you will get back the unearned premium. The premium will be returned on a pro rata basis. For example, if you policy period is 6 months and your premium is $600 and you cancel after 4 months, then you will get roughly $200 back.
While of the "unearned" premium should be returned when you cancel your car insurance, it would be important to know why you are cancelling your car insurance.If there are no other cars in your household and you are not considered an insured on another comparable auto insurance policy, you may wish to consider "Non-owned Auto" coverage. This type of policy covers you for liability and physical damage while you are operating a car you do not own (borrowed, rented,etc.) and may provide uninsured/underinsured coverage to you when you are a pedestrian or riding in someone else's vehicle. Not owning a car does not mean you no longer have an auto related exposure.
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
If you cancel your car insurance you may be entitled to a refund, but you should discuss it with your Insurance Professional. The amount of refund will be dependent upon the amount you have paid and the length of time the policy has been in force. If, for example, you have a six month contract and have paid it in full, then if you cancel after three months you would receive about half of your money in return. Cancel after 5 months and you will receive about a month's worth. If on the other hand you pay half and then choose not to pay your next quarterly installment, your policy's grace period will kick in and you will continue to have coverage for a specified period of time. If you then cancel the policy while in that grace period, instead of a refund, you will owe for the extra coverage provided.
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Insureds are due back any unearned premium that insurance companies do not use. The premium is earned when then insurance company indemnifies you for the policy period.
So, if you cancel your policy before the end of the policy period, then you will get back the unearned premium. The premium will be returned on a pro rata basis. For example, if you policy period is 6 months and your premium is $600 and you cancel after 4 months, then you will get roughly $200 back.
I hope this helps.