Automobile Insurance Policy

[biokimistry]

I live in Florida. I bought a new car based on price and cost of insurance. I switched from the insurance company that I currently had because the agent quoted me a price lower than my current company. I paid over $500.00 down on the insurance policy through the dealership's agent. Now I have received a bill for an additional $141.00 from the insurance company stating that there was an "error in qouted premium." Once the amount is agreed upon and the contract is signed, don't they have to honor the contract??? They are threatening to cancel my policy if they do not receive the additional money.

 

[tammy8]

Premiums are based on many issues including driving records, prior insurance claims, prior companies, credit, etc. Your premium may have increased due to any or all the above factors and the information you gave the company. Your premiums are based on what the Company not the agent charges you therefore you owe the money. Remember if it sounds too good to be true, it usually is.