Automotive

Double Insurance Payments Error - What Do I Do?

  • Last Updated:
  • Oct 15th, 2018 3:28 pm
[OP]
Newbie
Oct 12, 2018
1 posts

Double Insurance Payments Error - What Do I Do?

Hello there,

So it seems I've just learned a lesson about checking my banking statements a bit closer.

I got my first Ontario insurance through a broker with one insurance company (let's just call this insurance company Firebird). The next year, my broker moved to a different branch in the city; I stayed with her and moved branches because I liked my broker. That coming year, she found a better deal for me with a different insurance company (let's call that insurance company Wyvern). So in my second year of car insurance in Ontario, I changed insurance companies from Firebird to Wyvern.

Well, some time passed, and I finally took a closer look at my banking statements - and it seems I've been paying for *both* Firebird and Wyvern ever since the switch. My presumption was that this was an accident, but it's clear in any case that I don't need two insurance companies for only a single car (and I am the only driver).

So my question is - is there a way to recover the lost money? How would I do this? I obviously also need to cancel one of these two insurances (made through different branches) - I don't know if there will be a penalty or what. In any case...I'm saving my banking statements and the mail I've received from both of them to at least prove that there has been some kind of oversight here - which I hope wasn't mine!

Thanks for any help you can provide,
-Gidoza
9 replies
Deal Addict
Nov 16, 2011
1253 posts
942 upvotes
HAMILTON
!st thing I would do is talk to the broker and see what is going on. It would appear the broker has insured you with 2 companies.

Call the broker and ask them how they are going to fix it.
Deal Expert
Aug 22, 2011
34412 posts
20445 upvotes
Center of Universe
Drop the sloppy broker and deal with the insurance company directly.
What's the point of having a middle person that takes your information (hopefully without any errors) and then sends it to the insurance company on your behalf?
Deal Guru
Feb 24, 2007
14365 posts
2361 upvotes
Gidoza wrote: Hello there,

So it seems I've just learned a lesson about checking my banking statements a bit closer.

I got my first Ontario insurance through a broker with one insurance company (let's just call this insurance company Firebird). The next year, my broker moved to a different branch in the city; I stayed with her and moved branches because I liked my broker. That coming year, she found a better deal for me with a different insurance company (let's call that insurance company Wyvern). So in my second year of car insurance in Ontario, I changed insurance companies from Firebird to Wyvern.

Well, some time passed, and I finally took a closer look at my banking statements - and it seems I've been paying for *both* Firebird and Wyvern ever since the switch. My presumption was that this was an accident, but it's clear in any case that I don't need two insurance companies for only a single car (and I am the only driver).

So my question is - is there a way to recover the lost money? How would I do this? I obviously also need to cancel one of these two insurances (made through different branches) - I don't know if there will be a penalty or what. In any case...I'm saving my banking statements and the mail I've received from both of them to at least prove that there has been some kind of oversight here - which I hope wasn't mine!

Thanks for any help you can provide,
-Gidoza
No, as they had provided the service in exchange for your premium. It is up to you to cancel the policy when changing insurance providers. Your broker should have told you that since you are giving her your business. I agree with the poster above..time to find another broker. There should not be any charges from the previous provider since you have a new policy from another provider.
Last edited by eldiablo on Oct 14th, 2018 8:51 pm, edited 1 time in total.
Deal Addict
Feb 24, 2007
4050 posts
974 upvotes
I believe you yourself have to do the canceling of the previous insurance. When I switched my insurance my broker will send me a sample email that I just signed and forwared it to my previous insurance company. This is your responsibility. And never use auto paid. Checked your balance all the time. I hate to say that you will be able to get your money back.
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Deal Fanatic
User avatar
Mar 1, 2005
5516 posts
3096 upvotes
Toronto
Either she’s lazy or she likes making 2 commissions off of you.

My broker cancelled my previous insurance for me when I switched.

Send her a bill for all the payments you’ve made to your old policy.
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Deal Fanatic
User avatar
Aug 11, 2008
8750 posts
1372 upvotes
Ontario
Call your Broker and ask them to send in a copy of the most recent insurance policy to the first insurer to prove that you took insurance out with someone else. If your current Broker does not represent the first insurer any longer, call the office that does and ask them to do it. It may be possible to recover the premium you paid on the policy you did not require. However, saying this, its still your responsibility to cancel your insurance and be aware of debits coming out of your bank account.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Addict
User avatar
Jul 23, 2004
2110 posts
629 upvotes
Montreal
I don't know if this is only in Québec or if I really got this correctly, but there is a rule that says you can only be insured by one company for your home or car.
If something like what you described happens, you only need to contact your previous insurer and give them proof of insurance from the current insurer and they will cancel your policy and refund your money.
Deal Fanatic
User avatar
Aug 11, 2008
8750 posts
1372 upvotes
Ontario
basically what i just said
AMD wrote: I don't know if this is only in Québec or if I really got this correctly, but there is a rule that says you can only be insured by one company for your home or car.
If something like what you described happens, you only need to contact your previous insurer and give them proof of insurance from the current insurer and they will cancel your policy and refund your money.
RIBO LICENCED INSURANCE BROKER, over 35 years experience

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