What Happens If Your Homeowners Insurance Is Cancelled?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    From time to time insurance companies may choose to withdraw from a certain market. If the company has cancelled your homeowner’s insurance policy, your coverage will cease. Normally they give you adequate notice so you can secure coverage elsewhere. If you have a mortgage, the mortgage company will likely exercise their right to secure coverage with a policy that will protect their interests and at a price that might not please you. If you don’t have a mortgage you can elect to go without. The risk of not insuring the home is great.
    Answered on March 24, 2014
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