Updated 11/5/2025
For Direct Bill policies with a premium finance company, the return premium is sent directly to the designated premium finance company. The PFC will apply the funds to the insured’s outstanding loan balance. Agents can monitor the status of these funds and any potential refund due to the insured through our premium finance partners’ online portals. Agents: Click here to learn how to access a PFC portal →
For Direct Bill – Pay in Full policies, the return premium is sent directly to the agency, which is responsible for forwarding the funds to the insured.
For Agency Bill policies, the return premium is sent to the agency, unless it was already taken on statement. In some cases, a premium finance company may request that the return premium be sent directly to them; in such cases, we will contact the agency before doing so. The agency is responsible for ensuring proper disbursement of the return premium to the appropriate party.
Please allow up to 10 days for processing of the return premium once released to the pfc or agency.
Return premium refunds cannot be issued directly from Cover Whale to the policyholder.
All return premiums are processed and released only after a thorough validation and review by Cover Whale.