Since 1964

FAQ

I received an invoice for the total premium. Can I finance my insurance premium?

Insurance premiums can be costly and sometimes the insurance carrier will not offer installment options. If your billing is on Agency Bill (which means that you receive bills from us directly), you can finance your policy. To finance your insurance premium, fax back your bill with a note indicating such.

I received a Notice of Cancellation for Non-Payment. I remitted the payment, so did I receive this?

As an insurance brokerage, we remit the payment to the carrier once we receive the payment from you. Our Accounting Department submits the payment when we are billed by the carrier, however sometimes the carrier will be slow to send an invoice. If you have made a payment, the notice of cancellation most probably has been sent because the payment has not yet made it to the carrier yet. Contact our Accounting Department for the status of your account.

I have cancelled my insurance policy. How long does it take until I receive my refund?

When a policy is cancelled, it takes 2-3 weeks to process the cancellation. Once we receive the cancellation endorsement, it then takes another 2-3 weeks until we receive the return premium (refund). Unfortunately, we cannot issue a refund until we have received the refund from the carrier.

My insurance policy expires soon, what should I do?

You have a designated account representative that handles any questions, comments, or needed activity regarding your account during the policy term. As the policy term nears its end (at least 1 month prior), the representative will contact you regarding its renewal.

I have received a Notice of Cancellation, what does it mean?

Notices of Cancellations can be sent out for a variety of reasons ranging from misrepresentation, underwriting reasons, or failure to submit necessary material or payment. Your representative has received a copy as well and will be paying prompt attention to the matter. Contact your representative for detailed reasoning as to why the notice was sent.

I plan on renovating my property. Do I have to notify my insurance carrier?

An insurance policy is an agreement that you , as the insured, hold with the insurance carrier. Part of the insuring agreement is that you accept the duty to report any changes that occur to your property during the policy term. Renovation is a change that must be reported. If the carrier is not notified and a claim should arise, there is a chance that the claim will be denied by the carrier.

How do I report a claim?

In the case of a claim, you may report the claim directly to the insurance carrier or you may contact our designated Claims Reporting Department. Not only is our Claims Dept. there to assist in reporting your claim, but the Department is available for any questions that you may have regarding the status of your claim. This department is readily available for extended hours to better serve your insurance needs.

Can I cancel my policy midstream?

Although we never want our customers to cancel their auto insurance policies with Anchor Brokerage Co., Inc, we understand that sometimes circumstances can prevent you from maintaining your policy. Perhaps you no longer need auto insurance because you’ve sold your car and plan to rely on public transportation. Or maybe you’re moving out of the country or to a state that isn’t covered by Anchor Brokerage Co., Inc. Whatever the reason , Anchor Brokerage Co., Inc makes it easy to cancel your auto insurance policy if you need to.

If you need to cancel your auto insurance policy, simply call our customer service center. Our representatives are available round-the-clock to take your calls. If you need to cancel your policy, they’ll take you through the necessary steps.

Can I cancel without penalty?

There are never penalties, or fees at Anchor Brokerage Co , Inc. As a general rule, you cannot necessarily cancel an insurance policy mid-term without being responsible for remaining premiums unless you either (1) dispose of the insured asset; or (2) provide replacement insurance; e.g. when people change auto insurance midstream, they are cancelling the old policy be replacing it with a new one.

If you need to cancel your auto insurance policy, simply call our customer service center. Our representatives are available round-the-clock to take your calls. If you need to cancel your policy, they’ll take you through the necessary steps.

What if I have an insurance lapse?

Motorists who experience a lapse in automobile coverage can see a variety of negative effects as a result.

Most commonly, individuals who have lapses in vehicle policies will usually be affected financially. Potential consequences of lapsed auto insurance can include citations, suspended driving privileges and/or vehicle registration and even uninsured accidents and losses; these consequences can also vary based on how long a policy has lapsed.