Saturday, December 17, 2011

If insurance broker forgot to pay my premium to the insurance company, am I still covered?

My premium was due last August which I paid to the broker. They forgot to forward the funds to the actual insurance provider and I had received a notice of cancellation. The policy was not reinstated until November 25th. They sent me a renewal notice saying I have to pay again in August. They said since it was their (the brokers) fault I would have been covered anyway if something happened (this is a commercial insurance policy). Is that true?

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