Nationwide Corporation Complaint - Cancellation charge
WALKERTOWN, NORTH CAROLINA -- In April of 2003, I had a small fender bender in a parking lot, and the woman demanded it be reported to my insurance. My insurance company was well aware of the accident yet never changed the policy when it was renewed in May and then again it November. I then started having it automatically deducted from my checking account. In January 2004, I received a letter showing they would no longer keep full coverage on my two cars, both are still being paid for therefore they both require full coverage. I called my agent and told him I was going to cancel my policy because I had to have full coverage. I signed a form showing my cancellation and sent it back to my agent. Nationwide still took out a payment that month and sent a bill for the next month. I called the agent again in Feb. telling him I cancelled my policy and wanted my $109 back that they took from my account. 2 weeks later I received a check from Nationwide for $37.12. I called the incompetent agent again, and after waiting for a day he finally got back to me to tell me that I was being charged for cancelling my policy with Nationwide, and that was all of my money I was getting back! They changed the policy, not me! This has to be illegal, the insurance agencies know we have no choice, it's required by law to have insurance, they are taking advantage of this by overcharging us and screwing us around. Something must be done!