Unitrin Specialty Complaint - Stole all of my money

Review by JKLAW on 2011-02-04
DALLAS, TEXAS -- (Note: I was insured for another 6 months prior to this complaint to this company)
In my second policy term of 6 months, 2 months in, I decided I was paying too much (200 a month!) I wanted to call the brokerage in order to reduce my coverage and/or premiums in areas in order to save money, but the brokerage would not get back to me, I kept leaving voicemails and they wouldn't call me back. Finally I left a voicemail saying I'm cancelling and they call me the next day trying to get me to stay. I just told them I still wanted to cancel, and they honored and cancelled. Expecting a fat refund for all the THOUSANDS of dollars I've paid to this company and not had a single ticket, I get a check for NINETEEN MEASLY DOLLARS!!! WTF!!?!?
I called and the lady was nice but she would not get me more money back. I was subject to a ton of fees that turned almost 400 dollars from this policy period into 19 dollars. What a bunch of crooks! I give them all my money and they never have to pay for my expenses and they treat me like this by only giving me 19 dollars? DO NOT GO THROUGH UNITRIN or their goons such as; Financial Indemnity Company, or Deatsch Insurance Agency, Inc.
Comments:2 Replies - Latest reply on 2011-02-05
Posted by Skye on 2011-02-04:
Sounds to me you never had cancelled an insurance policy before. Sadly, it does not work that way, that you get back just about all the money you paid into it. They will pro-rate your last payment date, along with the actual cancellation date, ie, how many days you were covered under the last payment, and that's how they come up with the refund amount. All those payments over the months were insuring you. You don't get back what you actually used up being covered policy wise. You paid to be covered, and that's what they did.

Posted by GenuineNerd on 2011-02-05:
If it's a whole-life insurance policy, those have "cash value", if you wish to either close the policy or borrow money against it (such as for buying a car or paying off credit card debt.) The cash value is usually a bit less than what your total coverage is, or what you paid into it. Homeowner/renter and automobile policies are usually non-refundable.

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