Progressive Auto Insurance: When Will I Get My Refund?

Progressive's refund policy states that customers will receive a refund for any unused premiums, minus any cancellation fee that may apply, as long as coverage is canceled before the policy term ends. The timing of the refund depends on the payment method. Customers who have automatic monthly payments set up with Progressive will get their refund within two or three business days of canceling their policy. Customers who pay by check, through the online portal, or by phone will generally see their refund after about 12 business days.

Progressive's refund policy

The method of refund depends on how the customer pays for their insurance. Customers who have automatic monthly payments set up with Progressive will get their refund within two or three business days of canceling their policy. Customers who pay for their policy with a check, through the online portal, or by phone will generally see their refund from canceling a policy after about 12 business days. The refund will be issued through the same payment method used to pay for the insurance. For example, if you pay your premium with a check, you will usually get an insurance refund check.

Progressive charges a cancellation fee of 10% of your premium or a flat fee in some states, though customers in other states do not have to pay a fee for canceling their car insurance coverage mid-policy.

Policyholders can cancel their auto insurance policy at any time, for any reason, and do not have to wait until the end of their policy period. Progressive customers can cancel over the phone at any time by calling (866) 416-2003, but not online.

When to expect a refund

Progressive's refund policy states that customers will receive a refund for any unused premiums, minus any cancellation fee that may apply. As long as coverage is canceled before the policy term ends, Progressive customers will get a refund.

The timing of your refund depends on your payment method. Customers who have automatic monthly payments set up with Progressive will get their refund within two or three business days of canceling their policy. On the other hand, customers who pay for their policy with a check, through the online portal, or by phone will generally see their refund from canceling a policy after about 12 business days.

It's important to note that Progressive charges a cancellation fee of 10% of your premium or a flat fee in some states. However, customers in other states do not have to pay a fee for canceling their car insurance coverage mid-policy.

Additionally, the method of receiving your refund depends on how you paid for your insurance. If you paid by check, you will typically receive a refund check. If you paid with a credit card, your refund will appear as a credit on your card balance.

Payment methods and refunds

Progressive offers a range of payment methods for its customers' convenience. You can pay for your car insurance policy using a credit card, PayPal, online check, personal check, money order, or electronic funds transfer (EFT) from your checking account. Additionally, Progressive allows you to set up automatic payments or send a check by mail. When paying online or by phone, your payment will be accepted immediately. For automatic payments, the funds will be withdrawn on the regularly scheduled date. If you choose to mail your payment, the postmark date on the envelope will be considered the payment date, as long as it is postmarked by the due date. Progressive gives you the flexibility to pay either monthly or in full, whichever suits your budget. However, you can take advantage of a discount if you opt to pay for your six-month policy upfront.

Now, let's discuss refunds. Progressive will issue a refund for any unused premiums if you cancel your policy before the end of the term and have paid in advance. The time it takes to receive your refund depends on your payment method. Customers with automatic monthly payments will typically receive their refund within two to three business days of canceling their policy. On the other hand, those who pay by check, through the online portal, or by phone will usually need to wait around 12 business days for their refund. It's important to note that Progressive charges a cancellation fee, which will be deducted from your refund. This fee varies and could be a flat rate or a percentage of your premium.

Cancelling your policy

Progressive allows policyholders to cancel their auto insurance policy at any time, for any reason. You don't have to wait until the end of your policy period to cancel, and you can cancel over the phone, by mail, or via email. However, auto policies cannot be cancelled online.

When you cancel your Progressive policy, you will generally receive a refund for any unused premiums, minus any cancellation fee that may apply. This means that if you paid your full premium upfront, you'll typically get a refund when you cancel your policy. If you pay your premium monthly, you may or may not get a refund, depending on when you cancel. If you cancel in the middle of the month or billing cycle, you may get a small refund for the remainder of that month. If you cancel at the end of the month or billing cycle, you probably won't get a refund.

It's important to note that Progressive charges a cancellation fee of 10% of your premium or a flat fee in some states, though customers in other states do not have to pay a fee for cancelling their car insurance coverage mid-policy.

To avoid a lapse in coverage, make sure your new policy is already in effect before you cancel your Progressive policy. Nearly all states require drivers to have liability coverage, so you must have a new policy in place before cancelling your current one. If you finance or lease your vehicle, your lender or lease company will typically require comprehensive coverage and collision coverage.

Switching insurance companies

Compare Policies and Companies:

Before switching, it's essential to compare policies and insurance companies. While you may be tempted by a cheaper rate, it's crucial to ensure that the new company offers similar coverage, limits, and deductibles as your current insurer. Affordability is important, but it's equally important to consider how well the new insurer handles claims and whether they provide 24/7 service. Remember, trading valuable protection for short-term savings may cost you more in the long run.

Shop Around for Quotes:

Start by getting quotes from at least three different insurers. This will allow you to compare rates, coverage options, and discounts offered by each company. When requesting quotes, be prepared to provide basic information such as your address, vehicle details (year, make, model, and Vehicle Identification Number), driver's license numbers for all drivers, and Social Security numbers for policy owners. Remember to inquire about available discounts to maximize your savings.

Consider Your Current Coverage:

Before making a final decision, review your current coverage and discuss any concerns with your current agent or insurer. They may be able to offer you new discounts, identify savings opportunities, or adjust your coverage to better suit your needs. If you work with an independent agent, they can help you find a new policy from another company, as they represent multiple insurers.

Choose a New Insurer:

Once you've found a suitable insurer that meets your coverage and budget needs, it's time to finalize your new policy. Remember to research the new company thoroughly, considering factors beyond just price. Check their customer service scores, financial strength ratings, and claims satisfaction ratings. This will help ensure that your new insurer provides not just a competitive rate but also excellent service.

Avoid Gaps in Coverage:

Ensuring continuous coverage is critical. You don't want to be left uninsured, even for a single day, as it could lead to negative consequences. Make sure your new policy starts on the same day your old coverage ends. Your new insurer should be able to accommodate your chosen start date, provided you give them sufficient notice. Ask for written confirmation of the end date from your old insurer and the start date from your new one.

Cancel Your Old Policy:

Once you have confirmed coverage with your new insurer, remember to cancel your old policy. Contact your previous insurer to notify them of your cancellation date. You may need to sign a form or speak with a customer service representative to complete the cancellation process. Be mindful of any cancellation fees or refunds due, as these can vary depending on your insurer and the timing of your cancellation.

Update Your Information:

After switching insurance companies, don't forget to update your insurance ID card. You'll need to carry proof of coverage under your new provider. Your new insurer will likely send you a physical copy of the updated ID card, and they may also provide a digital version via email or their mobile app, depending on your state's regulations.

Remember, you can switch insurance companies at any time, but by following these steps, you can make the process smoother and ensure you're getting the best value and coverage for your needs.

Frequently asked questions