Complaints

• Initial Complaint

  01/10/2025

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We have had Cover Wallet for a few years and it has been a nightmare. Cover wallet seems to have a revolving door for agents. One day you have an agent, the next day another one, and you would not know that. Your insurance will lapse, not renewed, etc., and no one will let you know. It's very dangerous to do business like that. We have not had to file a claim for anything so far but very alarmed about their business practices. Would not recommend them even to professional ************** we discovered that one of our policies has lapsed because cover wallet failed to initiate renewal or notify us of that. A week ago we discovered the same with another policy. We have our policies with them on auto renew. We tried to reason with them today but their staff are rude. They have assigned an agent to use his name is ******** *****. He is so rude and unprofessional. He initially sent us an email to pay the fee and renew, one of the elapsed policies, then said you cannot renew it, then he said you can renew it. Its impossible to track or deal with them. We sked him about the other expired policies which they failed to tell us about or bill us for, he said to stop beating around the bushes. He was so rude. He refused to help and said he is the manager. Now we have to file a complaint with the California insurance commissioner against them. If you have not dealt with them, I believe you are better off not to start. This is my opinion and based on our experience. They were good before but now they are ruthless. This is without us ever submitting a claim. Imagine if we were to submit a claim.

  

  Business response

  01/24/2025

  We have reached out to the client to review the following:
  The cyber policy was automatically renewed by the insurance carrier in October. We tried to contact the client on 10/23, 12/5, and 12/6, and he informed us he was looking into his options and deciding whether to move forward with the renewal. The client did not remit payment on the renewal policy, so the insurance carrier sent out a notice of cancelation for nonpayment; the policy was set to be canceled on 12/26.

  We informed the insured of this on 1/7 and we reached out to the carrier to confirm the policy would remain canceled and they would not reinstate the policy. Due to changes in the CoverWallet Agency,  we are not able to place coverage with another insurance carrier and provided the client with his loss history to shop for coverage elsewhere. Additionally, the client's E&O policy is being non-renewed by a different insurance carrier due to a change in their underwriting guidelines. We contacted the insured to explain the nonrenewal and, again, that we are not able to place coverage with another insurance carrier. We have since spoken to the insured and resolved this by explaining what actually occurred with the ****** non-renewal and providing a loss history so the client can replace all coverages with a local agent. The decision to decline coverage was made by the insurance carriers in both cases and not made by CoverWallet.

  

  Business response

  01/29/2025

  We have reached out to the client to review the following:
  The cyber policy was automatically renewed by the insurance carrier in October. We tried to contact the client on 10/23, 12/5, and 12/6, and he informed us he was looking into his options and deciding whether to move forward with the renewal. The client did not remit payment on the renewal policy, so the insurance carrier sent out a notice of cancelation for nonpayment; the policy was set to be canceled on 12/26.
  
  We informed the insured of this on 1/7 and we reached out to the carrier to confirm the policy would remain canceled and they would not reinstate the policy. Due to changes in the CoverWallet Agency,  we are not able to place coverage with another insurance carrier and provided the client with his loss history to shop for coverage elsewhere. Additionally, the client's E&O policy is being non-renewed by a different insurance carrier due to a change in their underwriting guidelines. We contacted the insured to explain the nonrenewal and, again, that we are not able to place coverage with another insurance carrier. We have since spoken to the insured and resolved this by explaining what actually occurred with the ****** non-renewal and providing a loss history so the client can replace all coverages with a local agent. The decision to decline coverage was made by the insurance carriers in both cases and not made by CoverWallet.

• Initial Complaint

  08/20/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On July 11, 2023, we PAID IN FULL $1,493.00 for commercial insurance for our church (New Macedonia of Faith located at ***********************************************************). The monies were withdrawn by Cover Wallet Insurance (Agent) on July 12, 2023. The Carrier was *************** On August 5, 2024, when we reached out regarding renewing our insurance, we were told that our insurance was cancelled on October 16, 2023. When reviewing our business account to ensure the monies were paid (which it was) as we scrolled through, we discovered a refund of ****** had been refunded 10/16/2023. We were never informed by letter and/or email from Cover Wallet - Agent or from USLI - carrier that the insurance was cancelled and a refund given. We have called both companies repeatedly to find out why the insurance was cancelled and only get a response that it was cancelled for non-payment. That is impossible due to paying in full on July 12, 2024. We also would like to know why we only receiving a partial payment refund. I have attempted to get information on why it was cancelled but all contacts from Cover Wallet or USLI will give me detailed and correct information. My goal is to get correct information and potentially get insurance coverage. When looking for other information, they ask for why it was cancelled and at this point, I have no correct answer. Cover Wallet agent ****** was supposed to get back to me in 48 hours which was yesterday (8.8.24) but I received no call and when I reached out yesterday and today, the ** said they were emailing for her to pick up, but no response. When requested her supervisor, they refused to give me the extension for direct contact. The *** stated he tried to email her D, ****, but no response. At this moment we are in limbo with what is going on and I would like answers for why it was cancelled; why there was no 30-day notice of cancellation; and how to remedy this situation to avoid further missteps. I have received no resolution 8.20.24

  

  Business response

  09/06/2024

  We have reviewed the account. Our remittance was delayed in policy issuance and documentation to support the remittance to the carrier. The insurance carrier sent a notice of cancellation due to non-payment and we refunded the client for the unearned premium. The client has new coverage secured and premium payment has been remitted to the carrier.

• Initial Complaint

  05/16/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I purchase a policy for auto commercial get change sing document everything and after a month they told me the my policy never get active and they have the money of my policy now to keep my business running I have to pay out my pocket the down on other policy and make payments and I was Risk about a month whit no insurance and they even not tell me at first I glad I was not doing nothing by then imagen have a accident and not be coverage now they have not refund and of *********************************************************************************** I need my refund ASAP

  

  Business response

  05/21/2024

  /We have researched our records for this client, we were only able to find some exchanged messages requesting a quote in ************************************************************************************************** policy from CoverWallet. If the customer can provide a policy number as proof we will be able to research it further. According to the screenshots the customer provided it appears this coverage is written with another insurance agency. 

  Customer response

  05/22/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *************************
  
  
  
  
   
  

  

  Business response

  06/13/2024

  Thank you for providing proof of the insurance coverage that was put into place for your business Thank you for providing proof of the insurance coverage that was put into place for your business. Please note, on the document that the producer is ************** and Tax Services, which is not affiliated with Coverwallet. If we were the producer (agency), this document would show Coverwallet **** It appears that this business is a trucking company and they may be confusing us with CoverWhale. CoverWhale insures trucking/freight carriers. It is recommended that this business reaches ************** and Tax Services to verify if the policy was written through CoverWhale. Additionally, we respectfully request that this complaint be closed and removed from the Coverwallet BBB profile. 

• Initial Complaint

  03/06/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My registered Agent Is *******************. I've been a customer with ********************** for 2 years. I have been calling weekly since January 26th for a excess liability quote. I was always told I would receive a call back numerous times and never do. I end up having to cal over and over again to get this quote finalized before I lose one of my clients. Here we are March 6th and once again, I'm told ******************* will call me back and he never does. I'm going to lose one of my clients over this. I've also been told over and over I cannot change my agent. So I'm stuck with a agent that never returns my calls nor helps be receive the proper documentation for my clients.

  

  Business response

  03/07/2024

  Thank you for your feedback and I'm sorry you had a bad experience with CoverWallet. Our ****************** team will be reaching out to you shortly.  If you should have any other questions or comments, please reach out to the Feedback team at **********************************

• Initial Complaint

  02/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I cancelled my policy with them in October or November of 2023. The Associate said the would refund the money to the card used to pay for the policy. I let them know the account was closed and the agent said they would mail me a paper check. I provided them my current address and phone number. CoverWallet sent the refund to the closed debit card anyway. It was issued on Jan 2nd, 2024. I nor my bank has received the money. The person handling my account *************************** is telling me I have to get a letter of verification for funds not received from my bank. I made several calls and a personal visit to the bank to get the letter. My bank said they do not give such letters and they provided with documentation to show that no money was received to the account since it has been closed since June of 2023. I want my $308.00 refund

  

  Business response

  02/29/2024

  Thank you for your feedback and I'm sorry you had a bad experience with CoverWallet. Our ****************** team will be reaching out to you shortly.  If you should have any other questions or comments, please reach out to the Feedback team at *********************************. 

• Initial Complaint

  10/05/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  the account ***************** I Had with this company which ran from 8/16/2022 - 8/16/2023 has been Cancelled and Closed as of 7/26/2023 12:01am standard time their records and is Still awaiting a refund of $26 to this date Not received!!The following renewal period of same account which would have ran from 8/16/2023 - 8/16/2024 has been cancelled and closed as of 8/16/2023 12:01 standard time. With a cancellation request/policy release signed and dated sent on 7/26/2023 at 12:37pm to records. This account is canceled and is still awaiting refund of $91.06 to this date! Still havent received. I disputed this charge of $91.06 with my banking institution, because This renewal should not have ever been taking place as I DID NOT AUTHORIZE OR AGREE TO A RENEWAL, NOR AN AUTORENEWAL. My banking Institution did not approve or move forward (I lost dispute with my bank as my bank says I acknowledged the charge and my banking states that coverwallet replyed and says they acknowledged they owe refund and will refund once disputed is donethat never happen) with the dispute.FRAUDULENT CHARGES of $*****. On 9/16/2023. I was charged ***** from company and account is closed. I proceed to Call in and sent an email. They Confirm account closed and company stated account was still on auto pay so I asked how can an account that is closed and confirmed to be closed be on autopay if it supposed to be closed and I demand the payment that was taken, to be returned now!!! They said they will be reversing the payment 5-7 day. Here it a month later. Im being force to file fraudulent charges with my bank and local police I also expressed that I never got and refunds that was already dude and Im furious In a total I am owe a refund of ****** TO OTHERS DO YOUR RESEARCH AND STAY AWAY FROM THIS COMPANY they are Unethical and use half way tactics continue taking & scam your money. I have to result to filing with the better Business Bureau ,Filling with the state insurance commissioner in just little hopes of getting a resolution, and to warn others of this unethical, scamming, lowdown company.

  

  Business response

  10/19/2023

  The timeline of events is here:
  ************************************************************************************
  
  The complaint on the $26 refund was valid as the case was closed on 08/11 instead of being reassigned to the billing team. I reassigned the case on 10/06/2023
  
  The complaint about the renewal is a result of the submitting agent not accurately explaining the terms and conditions to the insured, informing them that all submitted policies would be automatically renewed unless a cancellation request is received. No such request from the submitting agent nor from the insured was ever received.
  
  The renewal was canceled because the renewal payment was disputed.
  
  The submitting agent remains unresponsive.

  Customer response

  10/25/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   Company state $26 policy returns is valid!  but I have not received refund of any amount yet   I have not received ANY REFUND $26  $91.06 $46.29   Where is my refund that I am owed?

  i tryed to click and take look at so call document of timeline and of course this company denied me access to do so    This company is lying there are facts that I post supporting 

  you are stating the policy was canceled for nun payment and month later this company take another payment from my banking institution but state policy was canceled       

  the agent and I have both canceled the policy and submitted the proper paperwork to cancel and I have attach it here as proof. The agent with this company confirm it was canceled  and sent over the cancellation endorsement showing it was cancel.   also the agent and I both have email and call numbers of time and I have records of all emails and document all phone call    This unethical of a company do not reply to email nor take calls And they do not call back     This have been going on for months    I have resulted to filling complaint with insurance commissioner office  and on hope of refund and getting this company to have stop and cease on doing business in my state

   

  ****To others .please read all comments, reviews and bbb complaints do research for your self.  Hope my misfortune and problems be a prime example for you. Im not the only one that have this exact same problem with this company  it seems as this is a regular practice for this company 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***************************
  
  
  
  
   
  

  

  Business response

  12/01/2023

  The customer states that we fraudulently charged his card ***** on 09/16/2023 as part of an unauthorized renewal.
  The submitting insurance agency, ************************************** (*****************************) acknowledged the following when purchasing the policy on his client's behalf, which states that policies will be automatically renewed and grants authorization to to charge the payment method on file for the amounts due.

• Initial Complaint

  09/21/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We have been customers of cover wallet for years. Our cyber came up for renewal. Cover Wallet has not been communicative. We contacted them repeatedly and then our account manager ************************* had us submit another application to her which we did. We never heard from her. We followed up with her but our email bounced back. It turned out that she had left the company and works for a different company. We tried to reach her manager for weeks but no one replied. This company seems to be falling a part or does not care anymore. We called and spoke to reps in *************** who now run the companys service. No one knows what is going on. Our policies are now in the middle of nowhere and we do not know what is going on. We will start moving our policies from this company before its too late. we will file a complaint with the insurance commissioner.

  

  Business response

  03/08/2024

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

   

  There have been no additional inquiries from this client since this was resolved in October of 2023. They are still an active client with CoverWallet.

   

• Initial Complaint

  08/23/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  We started our coverage for worker's comp insurance with coverwallet on 6/16/23. We have liability insurance through them as well. On 7/27/23 our CoverWallet broker asked us to sign a document and back date it to the beginning of our policy. We signed this document electronically and requested information regarding the document, which, admittedly we should have done prior to signing, though we were concerned that it would cause a lapse in coverage if we didn't. I followed up 3 times requesting information as to why we needed to back date this document. We then received notification on 8/2/23 that our insurance policy was active. After also receiving confirmation that it has been active since 6/26/23. On 8/18/23 we received a second letter from our State requesting proof of our worker's comp insurance. We called the state and they said that they are investigating our policy and it was an issue with the broker. I asked our contact at CoverWallet to provide us with the background regarding the document again and anything else they have done on our behalf with our insurance provider. Our contact has continued to refuse to answer the request for documentation. I've included the email exchange. We have paid them monthly for our worker's comp insurance and have paid for our liability insurance annually. The most recent email exchange is attached. We will be pursuing canceling our insurance through this broker and are concerned that there will be retaliation in some way due to other complaints against the business.

  

  Business response

  09/20/2023

  Coverwallet management has reached out to the customer and provided carrier documents requested and has confirmed with the client the policy is active with the carrier. 

• Initial Complaint

  08/11/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  AFTER 4 YEARS OF HAVING INSURACE WITH COVER WALLET, THEY CANCELLED MY POLICY WITH NO EXPLANATION. I HAVE NEVER FILED A CLAIM. THEY WON'T RETURN MY CALL TO GIVE ME A REASON AND NO OTHER INSURANCE COMPANY WILL INSURE ME WITHOUT AN EXPLANATION AS TO WHY THEY CANCELLED ME. I MAY HAVE TO GO OUT OF BUSINESS BECAUSE OF THIS! I CANNOT STAY IN BUSINESS WITH NO INSURANCE.

  

  Business response

  09/20/2023

  In our initial conversation with the client, we did let the client know we did not have a carrier partner who would underwrite their business. 

• Initial Complaint

  07/26/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Covered **************** is a third party shady unethical insurance broker business who puts you under numerous different insurance policies then uses tactics to continue taking money from our account after our account was closed and we canceled any and all policies with them and their affiliates and discontinued doing business with them. After policies have been canceled Covered Wallet continues withdrawing monies from cancelled policies claiming policies are under automatic renewal even when the customers has not signed up with or agreed to automatic renewal paying policies directly not through automatic renewal. Covered Wallet then claims it automatically renews their policies However they withdraw unauthorized monies 1 month before the PREVIOUSLY CANCELED policy would be due if it was continue by customer.. This is clear scam practices of Covered Wallet! As with any insurance if you dont pay your policy and coverages stop yet Covered Wallet keeps customers enslaved to them continually extracting unauthorized monies from customers. They then throw you into their endless cycle of going through different representatives to refund your monies trying to force you to sign a docusign to request a refund that Covered Wallet shouldve NEVER taken out to begin with. In addition their insurances services are substandard in that they cant even provide an accurate Certificate of Insurance or proper coverages that customer is paying for. We spent countless hours and over a year on a simple request of Certificate of Insurance and proof of coverages which we gave up on getting coverage elsewhere. This company needs to be charged with fraud and shutdown to protect the public against unethical insurance practices.

  

  Business response

  08/01/2023

  We are sorry to hear your dissatisfaction with our service.  Please know we are researching the issue and a Manager will be reaching out to discuss resolution when we have more information.  

  Thank you for your patience.

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

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩