This is not an option on auto insurance policies. There are insurance products that have accumulated cash value, like life insurance. If you cancel those policies you can received the surrender cash value in a lump sum. There is no insurance product that pays money back after the policy is not used. If you read on you will learn that the premium you pay is calculated based upon statistics that it will get used (maybe not by you, but by the entire group of policyholders).

Car insurance doesn’t work like other financial services that we pay for. It isn't a bank or investment account; it is estimated that U.S. consumers paid $394.4 billion in 2005 for homeowners, business and auto insurance.

Car insurance is something you buy hoping you never have to use it, and you purchase it to protect yourself from losses that you cannot afford. Originally, it was mainly purchased to cover unexpected losses, but over time it has become very common for all drivers to expect to use their auto insurance policy.

Auto insurance is about spreading out the risk among everyone who buys auto insurance. Car insurance premium goes to help fund losses suffered by the entire group or policyholders. The money is pooled. The premium you pay is calculated based upon statistics that it will get used. If this wasn't the reality then premiums would be higher, or simply you would pay for each claim in its entirety. Your car insurance company works (for themselves and their policyholders) to minimize the amount of risk it takes. It used to be said that the lower the premium, the less a company pays out on claims. But with better systems (both internal and analytical), companies are able to lower costs for customers. Buying a car insurance policy online is another example of how companies work to save you money.

Believe it or not, insurance isn’t as profitable as most financial products. A lot of insurance companies write insurance, particularly homeowners insurance on a loss and make money only on their investment income. This is one reason it is important to understand if your insurance company is rated.