ComplaintsforMagnum Insurance Agency Co., Inc.

• Initial Complaint

  03/05/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Policy was purchased from Seguros Magnum (562 ***************** ******) their number is ************** on 1/31/2024 I purchased a policy for a RS22. Which was paid $305. My mom went to insurance magnum office to acquire this insurance. She didnt mention anything and i already have another RS22 of my own. That same day I called American freedom insurance to cancel this ************* told me it was already cancel and I was going to get a full refund. 5 days later I got a letter on the mail saying the policy wasnt canceled. I called insurance magnum and I was told that the insurance was canceled but it would take about 4 weeks to get a full refunded. I called 3/5/2024 where I spoke with an employee by the name *****. Which he said I was going to get a refund for $170 bc my policy was cancelled on 2/20/2024. Which I dont want, I want a full refund bc my insurance was cancelled on the 1/31/2024. I spoke with 2 different employees and they kept on giving me different information. I asked to speak with a manager and he said they would give me a call back. They put me in a service without my consent that I was being charged $40 which why I making this report so I can get help with this situation and get a full refund.

  

  Business response

  03/13/2024

  We researched this complaint and found the following information:

  ***********************************
  
  Policy was issued 01/30
  Effective date 01/31
  
  Policy was cancelled 01/31
  Effective date 02/01
  
  Customer paid $305 in cash.
  
  $205 policy
  $75 supplement
  $ 25 fee
  
  The client is claiming the full amount of $305 but the insurance company is charging for 1 day of coverage,  the difference is $6.

  A refund on check ***** in the amount of $299 was processed on 3/13/2024 and sent via regular mail.  Client should have refund within 3-5 business days.

  Thanks,

  *************************

   
  

• Initial Complaint

  02/09/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I had started an insurance policy with magnum Insurance company on January 6, 2024 and canceled my policy on January 8, 2024. I still have not received my refund in amount of $338.00 Every time I called I get a different date for refund to be issued back in my account. The company also had put my number on block. I had to call from another number to get through. I feel that is really strange. I have proof of my canceled insurance. Please help

  

  Business response

  03/06/2024

  After Reviewing this case, the policy (ILVS4041162)was canceled on 1-9-2024. (Insured Request)
  The refund was processed within our system on 1-29-24. On Friday, 2-9-24 the refund was issues back to the Insured Credit card. Refund amount is for $332.00.
  

  The credit card company provided Acquirer Reference Number (ARN) *********************** that the client can provide to their bank to track down the refund.

  Thanks,

  *************************

  Magnum Insurance

  
  

• Initial Complaint

  12/12/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On November 3rd, 2023, I purchased a 6 month full coverage insurance policy through Magnum insurance for a 2019 ****** Corolla Hatchback SE that I was in the process of purchasing. I put my start coverage date to be November 10th, 2023, since I was purchasing the vehicle online and I knew it would not arrive to me until later in the month. Magnum offered me a fantastic rate when I put in the coverage details, and I though I was receiving a good deal on car insurance. On top of the $160.52, the policy was 101 dollars monthly; a good price for me. On November 9th, I receive an email from Magnum about a discrepancy on the policy agreement. Apparently, the coverage that they had said was full coverage was actually only for liability. I gave them a call, and after waiting for about 30 minutes for an agent, we discussed the pricing for a 6 month policy but full coverage. The agent said it would be close to 400 dollars a month, (almost 4 times initial quote) and to switch to it I would be needing to make an additional payment of around 300 dollars THAT day. I told them I would like to cancel the policy, and given that I had not received any coverage (it started November 10th) I was told the 160 dollars would be refunded to my account. its been a month and I have not received that money. I called Magnum again on November 27th and they said that policy and account were cancelled (even though up until that day i could see all the details and it said my payment was due on December 10th). That day they told me I would receiving my refund to the account I paid it from on the first week of December. That has not happened yet. I have received 0 communication from the business regarding this matter and the way that I have been treated has been below the standards that one wishes to be treated as a customer.

  

  Business response

  12/13/2023

  After reviewing this case, we see the policy has been canceled and the cancelation credit was generated. We are issuing the refund back to the clients credit card. The amount is for $160.52 and the client should see the refund within 3-5 business days.

   

  Thanks,

  *************************

  Customer response

  12/14/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *******************************

• Initial Complaint

  10/02/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am filing a second complaint against Magnum insurance since I have yet to receive the payment in order to fix my car. The accident happened back in March 2023. It has been months since the accident and it has been beyond a reasonable amount of time to have this resolved. I received an email stating the payment would be processed and mailed to me but I have not received anything. I contacted them through a phone call where I was told an adjuster would reach out to me but have not received a call or voicemail from them. I am requesting that this issue be resolved in the manner of receiving the payment I was told I would receive. Thank you.

  

  Business response

  10/19/2023

  I have attached an email from the carrier showing that payment was made directly to our client.  This should resolve this claim.  Please let us know if there is anything else that is needed.

  Thanks,

  *************************

• Initial Complaint

  07/06/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I like cancel my insurance with this company a month ago they will not cancel it and refund my money they telling me I need reason I wanted cancel I dont wanted this insurance with this company so they need to refund my money

  

  Business response

  08/16/2023

  Dear BBB:

  The insured bought the policy online on 3/7/23. On 6/6/23 insured called in asking to cancel the policy and was advised by our call center on what to do.
  

  On 6/7/23 the insured sent an email to call center, but it was incomplete for purposes of cancelling via an email. On 7/5/23 the insured sent in the correct document needed to cancel via an email. At that point we stopped the insured's autopay.
  

  There was a cancelation credit of $203.00 but there was also a balance with the financing the financing company that left the insured with an outstanding balance with the finance company of $29.76.
  
  Due to this there would be no refund available for this policy.

  Please let us know if there are any additional questions.

  Thank you

  Customer response

  08/18/2023

   
  Complaint: 20282728
  
  I am rejecting this response because: I was never told that I had paid cancellation fee to cancel insurance on car I no longer own they owe me money cuz I did what man told to do send email with my name , policy number and the reason why I needed to cancel my insurance with them and I did that but they said that wasnt good enough for them and a copy of my ID I did that they still wasnt good enough room so I had to argue with them over the phone about my money and now they want to talk about I have to pay a cancellation fee. How do you pay cancellation fee on insurance that you dont know longer have a car why would I be paying for insurance I dont have a car.
  
  Sincerely,

  
  
  *************************

• Initial Complaint

  07/06/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On Sunday 07/03 I purchase an auto insurance as this was an emergency and I was trying to take car out of impound. I then called on Wednesday to try to add SR 22 insurance. The person I talked to said I can cancel the policy you have and refund you the amount for 3 days and if you want start a new policy with the SR 22 included. I told them to give me a quote which they didnt. I called back and was told that due to my situation they would ask and call me back its been two days and no call. I called today to request a refund as this company has just been difficult to deal with a was told I had to come in to sign a document to cancel. First of all Ive had another insurance prior and when I cancelled they never made me do it in person or sign any documents. Second of all given the situation that Im in an I explained they should at least have the courtesy to email me the document and Ill send it back. At this point I do not care to have any business with Magnum I want my money back

  

  Business response

  07/21/2023

  Our client purchased an insurance policy for their 2014 ***** Equinox effective 7/3/23. on 7/5/23, our client called in asking to add an sr-22. There seemed to be confusion being the insured was stating the sr-22 needs to be for their vehicles license plate. We informed the insured that the sr-22 is assigned to a driver specifically tied to the drivers license. The insured advise this is what the secretary of state told her. we advised once again it was for the drivers license. on 7/6/23 the insured called back requesting to cancel the insurance. We advised what steps need to occur to cancel the policy. Again today 7/21/23 our call center manger called and left a voice mail for the insured advising an email was sent to her to electronically sign the cancelation document. Once we receive the executed cancelation form, we will work to close the account. 

  Customer response

  07/24/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  03/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On 3-13-23 I cancelled my insurance and was told that it was cancelled at that moment but was still charged for another month premium on 03-23-23. I should have never been charged the monthly premium plus I should have received a partial credit for the previous month when I cancelled.

  

  Business response

  04/17/2023

  Hello, please see the attached email. on 3/31/2023, we sent our response to ******************** 

  If you have any additional question, please feel free to contact us.

  thank you, 

• Initial Complaint

  03/01/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I received a call to renew my cars insurance. They gave me a quote and all but I didnt like the price, so I told them I wanted to look else were and would like to cancel this insurance! They did not tell me I had to go to an office to physically sign a document of cancellation. Now, I received a letter in the mail stating ** going to be sent to collection! This is outrageous! I verbally said I wanted to cancel! how would I know that I needed to go to the office if the person I spoke to did not tell me! Im not at fault for being denied information! I called and got talked over and was spoken to with sarcasm very unprofessional employee her name was ***************************! I told her who was the last person I spoke to their and she said I spoke with her in December. Im aware that when I spoke I said I wanted to cancel the policy! Either in November or December But she says shes 100% that I did not state this! I called again and another representative spoke to me she said the supervisor will be calling me back and was very nice and professional so I hope we can find a solution soon for me!

• Initial Complaint

  02/13/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On 2/01/23 at 6:24 pm I purchased a policy for what I thought and stated on magnum insurance website was full coverage for an online car purchase. Unfortunately I had to cancel the purchase because after the car dealers underwriter saw that the policy and it wasnt full coverage and when I called magnum insurance a representative told me that they couldnt quote me for full coverage unless I took the vehicle to one or their locations. After I canceled my purchase because under ******** law could not release me the car without full coverage I called magnum insurance to cancel my policy 2/2/23 at 12pm and was told that even though I purchased online the policy could not be canceled unless I went to one of their locations. I expressed my frustration and ********** assured me that if I sent an email with a letter canceling my policy they would process my refund to my card asap. On 2/3/23 I called for confirmation of my cancellation with the same representative and she confirmed and stated that I would receive my refund by 2/6 latest 2/8 I waited its 2/9 and I still havent received my refund. I called spoke to ********* she informs me that I would receive my refund via mail by 2/20/23 20 days after my cancellation. Not only do the have misinformation on their website but they misinformed me about a quote and now they are sending a check via mail 20 days later. I asked to speak to a manager and they refused. Its not okay to be able to take funds out of my card instantly but can not process a refund to my card at least 1 week later. They refused to connect me to a manager almost as if they know that they are doing something unfair. Why offer online services when you clearly can not process refunds. They are misinforming customers its very unfair.

  

  Business response

  02/22/2023

  After reviewing this case, the customer bought a policy online.
  At the time, she thought she had chosen coverage that included physical damage but in reality she did not. The client chose Liability coverage.
  The people at CarMax noticed this and advised the client she needed different coverage. In the end, the client did not end up purchasing that vehicle.
  The client called in on 2/2/23 to cancel the insurance. It was at that time the csr rep advised the client what to do. That same day on 2/2/23 the insured sent in an email to Magnum requesting the cancelation.
  Her cancelation was worked on that same day 2/2/23.
  On 2/9/23 the full refund was issued back to the insured via her credit card in the amount of $283.00. credit card ending in **** which was confirmed.
  
  The insured should have received the refund back on the card by now.
  If you need anything further on this case, please let me know.
  
  Thank you,

  *************************

• Initial Complaint

  10/27/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I was in an accident on October 10th and filed a claim the same day. It's now October 27th and I still haven't heard anything from them. I call everyday and sit on hold for multiple hours just to finally get connected to a rep who doesn't know what's going on and constantly transfers me to different people who I leave many voicemails and my calls are never returned. I was also given my agents number ************, who everytime I call, it goes straight to voicemail. I pay for a service monthly and they refuse to hold up their end of the deal. I need this rectified, I've been without a car for almost 3 weeks.

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