You will have to start a new policy with a new application. You should call around and get another agent. The $200 finders fee is excessive. Our agency used to charge a fee of $20 for new assigned risk policies ONLY because of the large amount of paperwork, low commission and high cancellation rate. We would never charge that on any other policy. Pick up the phone book & call other agents. Call someone that has a list of companies they represent under their name. When you call ask if they charge a finders fee. If they do, call someone else. I was under the impression that "finders" fees are limited. Call the CA Dept of Insurance to find out if they are limited in CA.You won't be able to avoid a new application but you certainly should be able to avoid a finders fee. Sounds like maybe you had a broker that doesn't represent any companies. Agents get paid on commission from the companies they have an agency agreement with, they don't need to charge insureds additional fees.

no you must get new insurance.

It depends on what company you are with and their reinstatement policies. Where I work, if the policy was cancelled less than six months, it can be reinstated with the same policy number and coverages. If cancelled more than six months, we write a new policy. So your best bet is to call your agent and ask him/her if your policy can be reinstated or if you need a brand new policy. I have never heard of a finder's fee either, of course that could be a Cali thing, I'm not sure. I think I'd go to another company that doesn't require that, if possible. Source(s): I work in insurance in NC

As a Geico employee our policy as well as most other ins. companies, there is a grace period of 7 days. If you reinstate within 7 days of the cancellation date you can get the same rate but you must pay 2 months upfront. After that grace period we will reinstate you but there are additional fees which you must pay upfront along with 2 months upfront. After 90 days you pretty much have to sign up from the beginning. keep in mind if you stick with the same company they will be charging you a higher rate because of your negligence in paying.

No. You must reapply and be issued a whole new policy.

IN MOST STATES IF YOU LET THE INSURANCE EXPIRE FOR MORE THAT 30 DAYS YOU WILL HAVE TO START THE PROCESS ALL OVER AGAIN AS IF YOU NEVER HAD ANY TO BEGIN WITH. Source(s): 923

No, you will have to take out a new policy for coverage.Never heard of a finders fee charged by an insurance agent or company. Just call an agent or company and apply and ask for down payment with balance due monthly.Hope this helps