Beware of Foremost Insurance Company

[Big Al]

I recently sold my boat but while it was up for sale I had to renew the insurance which was up on May 7th. Well I sold the boat on June 17th. You'd think you'd get most of the premium back but not so with Foremost. The minimum premium is $100. My policy was $161 for the year. I cancelled it after 5 weeks. Well expecting about $120 back, I got a letter the other day telling me they are sending me $61! I jus want to inform everyone to check with the insurance company you use and see if there is a minimum premium. I wouldn't have renewed my policy and taken a chance for a month.
BTW, the minimum premium of $100 is for one day on. So as soon as you sign that policy, you just paid Foremost $100, even if you cancel the next day! This is what Foremost customer service told me today.

[Kellen O]

I'm assuming you are going with Bob at Worldwide Marine now? Bob is awesome.

[06 SB]

I'm assuming you are going with Bob at Worldwide Marine now? Bob is awesome.

Not just yes but YES!!!

[M4A1]

Just to clarify, it is a minimum earned premium. Lots of companies handle this different ways...minimum earned premium (as in this case), cancel fees, 90% pro rate, etc. Sucks but it is how its done.