What Happens When You Change Homeowners Insurance?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThis is generally a seamless process. Since most homeowner’s policies are handled by a mortgage company they are quite accustomed to the process. The homeowner will need to notify the former insurance company so that their policy can be cancelled. The date selected for cancellation is the same date that the new policy is effective. Often the mortgage company will have enough in their impound account to pay the first annual premium. They should have enough once they have collected the unused premium from the previous insurer.Answered on March 31, 2014flag this answer
7647 POINTSview profileMark Bartlett CLCSBranch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance CarriersYou can change your insurance provider at anytime. You would simply start your new policy and notify your prior carrier that you wish to terminate your policy. Usually this request will be required in writing. While it is rare you should check first to see if there are a short rate cancellation surcharge.Answered on March 31, 2014flag this answer
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