|
|
 |
 |
 |
 |
 |
In Reply to: Re: binder posted by The Answer Man on August 16, 2003 at 23:23:44:
This was for a combined renters/auto policy in Maine. Thanks.
: : Hi, I had a question about binders.
: : I recently got a binder from a company, but when I went to sign the application, the numbers were all off. In fact, the quote I was given was actually over $100 less than the actual cost (due to the messed up numbers). I told the agent I wanted to go elsewhere. He cancelled the binder, but the letter stated that the reason was that I didn't turn in a signed application. I was wondering:
: : Do I have to pay for the 2 weeks of binder coverage?
: : Is there a penalty for not signing the application?
: : Does this mean I don't have continuous coverage (the day I cancelled the binder I got another from a better company)?
: : Any insight would be most appreciated.
: : Thanks.
: OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
: You did not mention what type of insurance you are referring to. Life insurance and property and casualty insurance are handled different ways when it comes to binders for each type.
: If you will fill in the details then someone will attempt to help you.