Cancellation & Refunds

Overview

Alexa Insurance Services, Inc. acts as an independent insurance broker. We do not issue insurance policies and we do not hold policyholder premiums. This page explains how cancellations and refunds work for both our brokerage service fees and insurance carrier premiums.

Brokerage Service Fees

In most cases, our compensation comes from commissions paid by insurance carriers and there is no separate fee charged to the client. In situations where a brokerage service fee or advisory fee is applicable, the amount, terms, and any refund provisions will be disclosed to you in advance and documented in a written service agreement.

If a service fee has been charged and you wish to request a refund, please contact our office. Refund eligibility is determined based on the terms of the written agreement governing the specific service. We review all requests promptly and in good faith.

Insurance Premium Cancellations & Refunds

Insurance premiums are collected by and paid to the issuing insurance carrier. When a policy is cancelled, any unearned premium is calculated and refunded by the carrier in accordance with the carrier's own cancellation terms, which may include short-rate or pro-rata provisions depending on the policy type and cancellation reason.

Our role in this process:

• We assist you with preparing and submitting cancellation paperwork to the carrier.
• We follow up with the carrier to confirm that any premium refund owed is processed.
• We can help you understand the carrier's refund calculation and timeline.

Please note: we do not control the carrier's refund timing, method, or amount. Refund timelines vary by carrier and can range from several business days to several weeks.

Avoiding Coverage Gaps

Before cancelling any insurance policy, we strongly recommend speaking with one of our brokers. Cancelling coverage without securing replacement coverage may expose you to financial risk. We can help coordinate the transition to ensure there is no lapse in protection.

How to Request a Cancellation or Refund

To initiate a cancellation or discuss a refund request, please contact us with:

• Your name and policy number (if applicable)
• The type of coverage and carrier name
• Your requested effective date of cancellation
• The reason for cancellation (optional, but helps us advise you)

Important Notes

• Initial consultations and quote comparisons are always complimentary. There is nothing to refund for these services.
• Some carriers may assess early cancellation fees or apply short-rate calculations. We will advise you of this before proceeding.
• Premium financing agreements, if applicable, may have separate cancellation and refund terms governed by the finance company.
• This page is for informational purposes and does not constitute a contract. Specific terms are governed by your policy documents and any written service agreements.

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