Cash that check Cautionary Insurance Tales to help you buy appropriate insurance coverage by DRickard Insurance, Your Favorite Insurance People

DRickard Insurance

607-843-8860

insurance@drickardinsurance.com

New York State

DRickard Insurance
"Your Favorite Insurance People"

DRickard Insurance

Your Favorite Insurance People

607-843-8860 insurance@drickardinsurance.com

Tales Of Woe*

*Unless you keep your agent informed. These are cautionary insurance tales of real or dramatizations of real life scenarios.

The Uncashed Check

In this episode Bob moves and does not think to tell his insurance people. As the story goes...

Bob, who never pays a cent more in taxes than he is forced to decided to move and not inform his insurance agent or his insurance company of the move or his new address. At the termination of an insurance policy he owned, unearned premium was due back to him. The check for the unearned premium was mailed to his old address and returned undeliverable. A year plus later he contacted the insurance company looking for his money. He was surprised to learn that according to New York State law, uncashed checks are considered abandoned property. Abandoned Property Laws require the insurer to remit unclaimed monies to New York State. So, who do you think Bob has to go to get his money?

The moral: Advise your insurance people of every change of address and phone number.

607 843 8860 or insurance@drickardinsurance.com