Auto Insurance Cancelled Due to Lack of Info

[saikrishnan7]

I recently switched from one insurance company to another since I got a better rate. I have been having it for close to 3 months now. Around 15 days back I got a letter from the company that my insurance will be cancelled effective 1st of Jan 2014 due to lack of information. When I contacted my agent I was told that I have not given any information about my spouse even though I had stated I was married. But the agent told me that the policy would be reinstated once I provided that information, which I duly did. The reason given by the insurance company was that it could not complete an underwriting. Now it has been 2 weeks since I gave that information to my agent but I haven't heard back from the company. My agent is confident my policy will be reinstated since underwriting reviews happen only once in 2 weeks and my underwriting will be done any time now and the reason it has not been reinstated still is only because they would not have got to it yet. Is this normal? Should I wait for some more time and wait for my policy to be reinstated or should I start shopping around for a new insurance?

 

[djs]

Odds are, your policy will be reinstated. Don't worry about that (unless your spouse has a bad record).

Check back weekly. I've never heard of a company that only does underwriting every 2 weeks, but this is almost always a manual process at this point (computer kicked it out already). I've been down this road with MANY clients. Most stuff is automated now where these questions come up before the initial policy is issued, but sometimes it happens after the fact. Not that unusual.

Dan

 

[saikrishnan7]

Thanks a lot, Dan. That makes me feel much better.

 

[rrminsurance]

I am interested in becoming appointed to multiple insurance companies. Does any one have any suggestions on how to begin this process.