May a policyholder go back in time to correct the specifics of an auto insurance policy?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: May 18, 2013

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Insurance Question from La Cienga, NM

Asked on 05/18/2013

May a policyholder go back in time to correct the specifics of an auto insurance policy? My case is as follows. I received in June 2012 the contract for a new auto insurance policy covering two vehicles. I signed it, and it went into effect in August 2012 and renewed in February 2013. In May 2013, I realized the details about my vehicles were incorrect. I no longer had one of the two cars. Before June 2012, I should have removed from the policy the one vehicle no longer in use. Do I as a policyholder have the right to go back in time, acknowledge my inattention to the specifics of the policy, correct what was in reality the case at that earlier renewal date, change my circumstances, rewrite the policy, gain the benefit of a lower premium, and receive a refund?

Answer given on June 18, 2013

If the insurance in June 2012 was a renewal with your current insurance company, they MAY be willing to go back to the June 2012 date to cancel the insurance on the car. They may ask for proof that the car was sold at that time. If you simply were not using the car, they will most likely deny your request to cancel the insurance. If you had the car as a non-operational car, they may reconsider, but proof again will be required to show it was in non-op status from that time.If they deny the date back to June 2012, they may be willing to cancel the insurance as of February of this year, or at least within 30 days from this date. It is something you will have to work out with your agent or insurance company.Be aware, whatever date is approved, you will lose the multi car discount that you have been receiving on your current auto, so that premium will go up. The savings is around 20% of the premium, so that loss of discount will affect any refund you receive.

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