Can an insurance company charge a large down payment for a 6 month policy without disclosing the total premium amount?

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Can an insurance company charge a large down payment for a 6 month policy without disclosing the total premium amount?

I paid the monthly premium for 2 months and canceled the policy. When I started I paid deposit that I thought would be refunded, I later found that the payment was a down payment to decrease my monthly payments but was never told the actual amount of the 6 month policy premium. So I want the down payment back because they were withholding information. If I knew how much my 6 month premium actually was from the start I wouldn’t have accepted the policy.

Asked on May 14, 2012 under Insurance Law, Arizona

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the regulations of each state's department of insurance there are certain guidelines that must be adhered to with respect to an insurance policy issued by an insurance carrier. Amongst them is the requirement in plain view of the actual premium that one would be paying for the policy in writing.

I suggest that you may want to consult with an attorney that practices in the area of insurance law of make a complaint against your insurance carrier with your state's department of insurance.


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