How long does it take an insurance company to issue an automobile insurance policy after receiving deposit?

A.J.: How long does it take an insurance company to issue an automobile insurance policy after receiving deposit?
I’ve been with the same company almost five years. My car insurance is renewed every six months, after I make the required renewal deposit. Like clockwork, I receive the new payment coupons, and temporary insurance card. However, I don’t get the permanent insurance card and new policy stating the value of my vehicle, until almost a month later. Sometimes longer. Is this legal? If so, why does it take so long for the agent to issue the new policy, and how will this effect me if I ever disagree with what’s in the policy?
P.S. I’m not referring to how soon the new insurance is “effective”, I’m referring to how soon the new policy is “received”. To my knowledge, the policy is renewed immediately for six months after I make the deposit, even though I don’t have the new policy, and just the “temporary” insurance card.
There has to be some type of law that gives insurance companies a certain amount of time to send out the new policy. If anyone knows please post.

Answers and Views:

Answer by contemplating
I have no clue…that sounds really odd.

My automobile insurance company lets me print my proof on insurance card off on-line at any time (usually the new one is up well before the last one expires…and I pay it after the card is issued). The other documents are also online.

Have you noticed any changes that they’ve made to the policy? I think it defaults to what I was signed up for previously.

Answer by blb
The agent doesn’t issue the new policy the company does. It sounds like the company is issuing the policy and sending it to the agents office who then sends it to you. It takes awhile for all of this to happen. If you don’t like it, switch companies. Most companies send the policies to you directly within 2 weeks of making the payment.

Answer by deanspurrier
Well for one your first payment is not a deposit. It’s a down payment or first payment, a deposit would imply that the money is being put up only to hold something or until further approval and that you have some right to a refund. With regards to insurance you have no right to any monies back from your first payment unless the policy is flat canceled, and then you would be entitled to any unearned premium less any fees from that payment.

Depending on the State in which your policy is written a carrier can have up to 90 days to send you a Policy Declaration Page and Policy but this is not normal practice with most carriers. Most will try and get those to you with-in a few days of issuance of the policy or as quickly as they can. Your situation is unusual unless like someone said, the policy might be going to your agent first and the agent then has to mail it to you, but again that’s a highly unusual practice. Check with your agent. It may just be that the carrier is slow to issue policies?

Take care!

Answer by mei-lin
My company sends out renewal offers 2-3 weeks ahead of the renewal date and the coverage is continuous if the renewal premium is paid. Most companies are so automated these days that turn around is pretty quick and with some you can go online and print your own. If you are having trouble, you can get a copy from your agent – if you are having trouble with your agent, call the company’s (not agent’s) customer service number and request it to be mailed or faxed to you. I even have one company that will email you a copy.

Answer by bundysmom
The renewal is sent approximately 30-45 days BEFORE the renewal. Do you live in the states?