Insurance company won't cancel my policy… can they do that?

General
1

I got my car insured just a week ago, but I found a better price with a different company and switched over.

When I contacted my first insurance company to cancel, they were pretty rude and told me it hadn’t been long enough for me to cancel. They also mentioned I’d barely get any refund.

Can they actually refuse to give me a refund?

2

Which state are you in?

3

Lex said:
Which state are you in?

New York.

4

Just go for a chargeback on your credit card.

5

Jules said:
Just go for a chargeback on your credit card.

Come on, that’s not a magic trick for every problem. You can’t just do a chargeback and get free money back.

6

Caden said:

Jules said:
Just go for a chargeback on your credit card.

Come on, that’s not a magic trick for every problem. You can’t just do a chargeback and get free money back.

And how would you know? For all you know, the card company might side with him. It’s quick to try, and credit card companies usually support their customers. I haven’t been denied one yet.

7

@Jules
But when your account eventually gets shut down for doing too many chargebacks, don’t be shocked. Overdoing it can get accounts closed.

8

Caden said:
@Jules
But when your account eventually gets shut down for doing too many chargebacks, don’t be shocked. Overdoing it can get accounts closed.

You say that, but I haven’t been denied yet, and I’ll keep doing what works for me.

9

@Jules
Just saying… as someone who works in finance, I’ve seen accounts closed for repeated chargebacks. It’s often cheaper for companies to pay than to fight it, but they do eventually cut off customers who abuse it.

10

@Caden
Honestly, if I’m confident I’m right, I don’t care about burning bridges with the insurance company or even my credit card issuer. There are plenty of options out there if they shut me down.

11

You may have a $50 cancellation fee in NY, but they can’t legally refuse to cancel.

12

They have to let you cancel the policy, but they can charge an early cancellation fee.

13

Do you already have a new policy ready? You don’t want any gaps in coverage. But yeah, just go ahead and cancel. You don’t need their permission.