What does it mean when insurance is prorated?

Proration — the adjustment of policy benefits due to a change of exposure or existence of “other insurance.”

Can you cancel AAA and get refund?

AAA Refund Policy The users who cancel their AAA memberships are entitled to prorated refunds of the paid dues. The refunds exclude any new member admission fees and discounts you used in the meantime. Whenever possible, AAA will use the original form of payment to credit you back.

Is car insurance pro rated?

Whenever a policyholder decides to make a change to their auto policy, their premium is prorated. Changes can vary from adding a car, adding a driver, changing cars, making changes to your current coverage, or qualifying for different discounts.

What are the benefits of AAA Premier?

AAA Premier Membership brings you the highest level of perks: 200 miles of towing, up to $150 reimbursement for locksmith fees (home or car), and top-tier travel benefits, including travel insurance and medical evacuation benefits, in addition to all that comes with a AAA Plus Membership.

How is pro rata refund calculated?

  1. Prorated Salary = ( Annual salary / Number of working hours in the year ) x Number of hours employee worked and is being paid for.
  2. Prorated Rent = ( Monthly rent / Number of days in the month )
  3. Prorated Bill = ( Total billing amount / Minimum billing unit )
  4. Prorated Refund = ( Total amount / Minimum unit )

What is a prorated refund of unused premium?

Pro Rata Cancellation — the cancellation of an insurance policy or bond with the return of unearned premium credit being the full proportion of premium for the unexpired term of the policy or bond, without penalty for interim cancellation.

Can you cancel AAA any time?

You can cancel your membership at any time. Call the AAA Member Service Center at 1-866-968-7222. Select the “member services” option when you reach the automated call center. Select the “membership questions” option when prompted so that you will connect with a customer service representative.

Can I get a refund on my insurance?

Your insurance company may issue a refund if your policy is canceled and you’ve paid your premium in advance. Receiving an insurance refund will largely depend on why you’re canceling the policy and how much of the premium you paid in advance.

What is the highest level of AAA?

AAA Premier Membership
AAA Premier Membership The highest level of AAA benefits and services.

What is prorated refund?

Pro Rata Refund means a refund of the amounts pre-paid to Supplier by Customer for the portion of a Product, or any related costs or expenses, that will not be provided or consumed by Supplier as of the date that Customer is entitled to receive any such refund, calculated (i) for any subscription-based Fees, based on …