Advise on Hiscox general liability insurance?! | TruckMount Forums #1 Carpet Cleaning Forums

Advise on Hiscox general liability insurance?!

Andrew1986

New Member
Aug 6, 2018
26
8
3
Real Name
Andrew Tetyuk
Hi friends! I have this problem with Hiscox insurance for my business. So I called them and they gave me reasonable price for insurance. One month later I had to cancel. I called and cancelled it. Because I paid large 1st payment I was waiting for refund of premium. After 2 month I called them asking about my refund. They told me that for my type of business there is no refund! Also they emailed me just now some kind of paper where it say that there is 25% non refundable down payment! There is no such thing in the documents I signed. I was never told about non refundable down payment. And on their website under cancellation is says that "you can cancel policy any time and any premium we owe you will be refunded". I never had such problem with any insurance company before. I feel like they are ripping me off. Here I have attached a picture of their cancellation policy from their website and also some type of paper they sent me just now. Again there was no such statement in my policy that i received from them in mail. Any suggestions? Is Hiscox just a bad insurance company? Thanks!
 

Attachments

  • Like
Reactions: castletocondo

Kimberleek

New Member
Jan 28, 2020
1
0
1
Real Name
Kimberlee Knipschield
Hi Andrew. I am an insurance agent and I came across your post while doing some research for a client. I can tell you that this 25% premium plus fully earned taxes and fees is standard when getting your coverage through a broker market like Hiscox. Many preferred carriers will write carpet cleaners and you will not have this problem.

It’s not Hiscox as a company that did this to you it is the broker that mandates this and charges the fee. The agent who you bought this policy from is not the broker but your agent knew about the 25% earned premium and didn’t tell you. Its always on the quote.
 
Last edited:

Andrew1986

New Member
Aug 6, 2018
26
8
3
Real Name
Andrew Tetyuk
Thank you for your reply! That is very interesting information. I didn't know that. It does make a lot of sense.

Thank you,
Andrew