An insurance company can cancel a policy even if the term is not yet done. Usually, home insurance is a renewable agreement, and the company does it automatically. If a policy is not renewed, it is also considered canceled.
Here are some reasons why your home insurance policy might have been canceled:
- Not paying the premium amount
- The company is suspected of fraud.
- Filing too many claims from a single policy
- Home pets are aggressive.
- A new addition to the home (like a trampoline or a pool)
- Having a vacant property
- Having a criminal record
- The coverage is not available anymore in your area
An insurance company must give notice before the cancellation of service. A cancellation should be notified before 20 days and 45 days for non-renewal.
What to do if you've got a canceled home insurance policy?
Call your insurance company as soon as you have gotten a notice. That states the cancellation of your home insurance. This is to find out the reason behind the cancellation and know what you can do about it.
For example, if you haven't paid your premium yet, you need to pay it. If you are living at a different address, you can change your policy into a landlord policy. If they decline to give a solution, shop for another home insurance policy in another company.
Some companies do not issue home insurance if you have a German Shepherd or Pit Bull as a pet. Yet, some insurance companies do not give these kinds of specifics at all. Since insurance companies have different offers and restrictions, getting another one is possible.
Getting a cancellation notice of your home insurance can be amenable. If, for some reason, they cannot give you a renewal, go through your insurance company and ask if there is anything you can change.
At Honest Insurance Services LLC, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (215) 354-1600 or Click Here to request a free quote.