Legal limit for Insurance Penalties
Question Details: I cancelled my homeowners insurance 2 days after the due date. Original cost was $5.28 per day. They billed me $81.18 for 2 days w/ penalties. Is this a legal amount ? The office secretary said it was somewhere in the fine print.
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If it's in the fine print, make the secretary show it to you--she can tell where it is to look in your copy of the contract. If it's not actually there in any paperwork you ever received, then you are not bound by it--though if it is there, even in in fine print or in an inobvious place, you would be bound.
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