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 Get back some surrender value of fire insurance, partial refund on premium paid

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TSpropusers
post Sep 11 2015, 02:58 PM, updated 11y ago

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after sell a house, can I get back surrender value of fire insurance?
I just paid fire insurance in July 2015 and S&P signed in August 2015.

Is my lawyer responsible to help me get back the surrender value? Or I need to contact the insurance company myself?


aurora97
post Sep 11 2015, 03:06 PM

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QUOTE(propusers @ Sep 11 2015, 02:58 PM)
after sell a house, can I get back surrender value of fire insurance?
I just paid fire insurance in July 2015 and S&P signed in August 2015.

Is my lawyer responsible to help me get back the surrender value? Or I need to contact the insurance company myself?
*
Interesting question, I reckon it would depend on whether your JMB/Mc allow such application to be made.

There will be a short table to calculate the refund of premium for premature termination, looking at the hassle one needs to go through and the amount you are able to retrieve it wouldn’t be worth your while.

You are probably better off factoring the price of the insurance premium on a pro-rata basis into your S&P.


 

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