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Does anyone know the laws regarding charging a cancellation fee by an agency? If someone cancels a policy mid-term, and the carrier doesn't charge a fee, would it be possible for the agency to charge a 5% or 10% fee for cancelling early?
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And what would you do if they didn't pay it? Especially since most non-standard is cancelled due to non-pay, not them calling in to cancel the policy.
Dan
100% agree, why not charge an up front broker fee with the down payment for the non-standard auto if it's legal in your state then don't worry about the cancellations.
And what would you do if they didn't pay it? Especially since most non-standard is cancelled due to non-pay, not them calling in to cancel the policy.
Dan
They are already charged a broker fee
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Turn it over to a collections agency