Auto policy?

Question

what does earned premium notice mean if your policy should cancel?

Answer 1

You owe them money and they are attempting to collect

Answer 2

Earned premium is the premium due for the time the policy was in force.  For example (very simplified), you  have a $1200 policy, you paid the first & second quarterly payments ($600), but you cancelled after the 7th month. You only paid $600 but the company provided you with 7 months of coverage.  Since in this case the premium is $100 per month, the earned premium is $700. you would owe $100 after the cancellation was processed.  Your final notice would say something like:

Annual policy premium: $1200

Cancellation date_____(7 months into policy)

Earned premium:  $700

Unearned premium:  $500

Premium paid:   $600

Balance Due:     $100

Answer 3

It means, you still owe that money, for  the time the insurance was still in force.