Echelon Insurance Cancellation Policy - Be Forwarned

[Gr8Stang]

So after selling my 98 Cobra, I approached the Broker (Zehr) to get the policy cancelled. Signed a doc. and returned to them and was awaiting my refund....

Been about 6 weeks and no refund cheque, so dropped an email to Zehr. Found out today that you can pretty much kiss any refund goodbye when you have Echelon covering your classic/historic car (not sure about other vehicles). Not sure if Haggerty or other providers have a similar policy, but its definitely different from my standard insurance policies (Bel Air). Beware!


Here's the breakdown of their policy. Basically if you are 70 or more days into the policy (I was 76), you get ZERO back.


15146

[Darkhorse]

Motorcycle ins is like that too. Even home insurance sometimes, Hurricane Season in FLA for example.

[FoxRod]

Always read the fine print before signing / renewing?

[mavrrrick]

Once again, BEND OVER!!!

[Gr8Stang]

Always read the fine print before signing / renewing?

Definitely! I actually did look at the policy doc. when I rec'd it, but did not recall seeing the cancellation info. I Posted above. Trying to find the policy doc. now to re-check. Anyway, definitely something I'll be more careful of in the future.

[92redragtop]

Policy terms look pretty clear from the image above.

[ZR]

It's my understanding Hagerty is the same, once paid it's a year regardless.

[WTF]

It's my understanding Hagerty is the same, once paid it's a year regardless.

nope....when I sold the Stang to Glenn I got what was pretty much the balance of the cancelled policy refunded back

[03svt]

nope....when I sold the Stang to Glenn I got what was pretty much the balance of the cancelled policy refunded back

As did I, I received around 90$ back. Took about 4 weeks but I got it back.

[Gr8Stang]

Policy terms look pretty clear from the image above.

Agree, problem is, I don't recall it being in the insurance doc. I rec'd from them. Still trying to find where I put it.

[ZR]

nope....when I sold the Stang to Glenn I got what was pretty much the balance of the cancelled policy refunded back

Good to know, thanks Tim.

[92redragtop]

Agree, problem is, I don't recall it being in the insurance doc. I rec'd from them. Still trying to find where I put it.

Yeah, will be interesting if the original policy included this stipulation or if there was a subsequent amendment (which they would have to notify you about).

[Gr8Stang]

^^^ Found my renewal doc. Has the details of the policy coverage and on the back page even has an area for cancellation (signature/date required) but not a word of the cancellation fees. I suspect what I got sent was a document shared between broker and insurance company. A pretty bad omission I'd say.