First Mutual Insurance Company

I obtained home owners insurance on my home on June 3, 2014 from this company by paying a $200 down payment with a yearly premium of $779.00. The agent stated on that date that my home would be covered untill 6/3/2015. I recived a phone call 3 days after paying my down payment saying they were cancelling my policy and letter on June 10, 2014 saying they were cancelling my policy because "property is in an isolated location and it does not meet company underwritting guidelines". First off I live on a road that is over 3 miles long with well over 30 homes on it. I do not understand how they can look it up and see where my home is on state and county issued tax maps, issue me a policy, then cancel because of some off the wall reason. I have NEVER in all my life heard of such a thing. This is the same company who insures pig farms and chicken houses and I am sure they are in a much more isolated location then a home that is on a road with steady traffic and many families living on it. I DO NOT understand why if they were going to cancel my policy with a phone call 3 days after making the down payment and obtaining this policy ,and a letter 7 days after that, why they wait over 30 days so they could basically steal my payment and keep my money to line their pockets? I just dont understand how they could honestly treat people this way. I have papers here saying my total years cost is $779.00 and I have a copy of where I paid the $200 down payment.They knew on 6/6/14 that they were dropping my coverage so why is it I have to be taken for a ride by these people for OVER a month?Product_Or_Service: Home Owners InsuranceAccount_Number: [redacted]Desired SettlementI would like a full refund of $200 in a timely manner. They got their money instantly when they run my debit card for $200.00 I should not have to wait for weeks nor should I be short changed because of their decision to cancel a policy. Business Response Contact Name and Title: [redacted]Contact Phone:[redacted]Contact Email: [redacted]The Company does business exclusively through independent insurance agents and this policy was placed with us by[redacted], [redacted]., the Company reviewed the risk with its usual underwriting procedure, and according to the information developed, this risk is in an isolated location (see information attached), therefore does not meet the Company's underwriting guidelines, and the Company properly issued notice of cancellation. This insured had coverage provided by the company from June 3, 2014 to July 12, 2014, a total of 39 days or pro-rata 10.6849% of a 365 day year. The annual premium for this policy was $729 ($779 less $50 policy fee, multiply $729 x 10.6849% results in an earned premium of $77.89 rounded to $78. The insured made an initial payment of $196.30 (see attached payment verification), subtract the $50 non-refundable policy fee, then subtract $78 earned premium, and this leaves a balance of $68.30 which was refunded to the insured on July 15, 2014. If this insured can furnish to us evidence of insurance coverage equal to or greater than what our policy provided effective June 3, 2014, we will refund the entire amount of money we received from the insured of $196.30. We trust that this satisfactorily responds to this complaint.Consumer Response So, what you are saying is only if I have insurance will you fully refund my payment? What does me having insurane now have to do with your inability to correctly write a insurance policy and stand by a policy your company approved after 2 calls on June 3rd from [redacted] to make sure I met underwritting guidelines, and I did so you issued the policy that yall are now walking away from? Look, I am not the one retracting a offer, you all are retracting and breaking an agreement. I didnt have insurance when I pulled this policy out with your company but now, I have to have it to get my money back? That just tells me and eveeryone I have and will talk to about this that yalls word and business aint worth the paper you write your policys on. And let me get one thing out there, [redacted] has ZERO to do with yalls lack and inability to provide a good and honest service and stand behind your product and services, they have been the one positive in this whole ordeal. If yall stood behind yall word as much as [redacted] you would have one fine business, however yall are the ones who make them look bad by yalls lack of caring about us common people who inturn is there clients. So you telling me I have to prove to you I have insurance before getting my full refund is crazy. That is just another trick by yall to not have to refund money yall un justly obtained. I still stand by my complaint as well as how this should be taken care of, however proving to you anything about my current insurance policy is not part of it nor is that any of your business.Final Business Response A pro-rata charge was made for the time the policy was in force and insurance coverage provided plus the non-refundable Policy fee. As coverage was provided for the time the policy was in force, the reason that the company offered to refund the entire premium paid if the insured could provide evidence of coverage elsewhere during the time this company provided coverage.