How To Get Home Insurance After Being Dropped?
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482An insurance company may take action to non renew your Homeowners' coverage for any number of reasons. Their standards are filed and approved by your State's Insurance Department so the reason cannot be arbitrary. If for a number and amount of claims, then these standards are not necessarily the same across the board for all companies. If cancelled as a result of unrepaired hazards, this is a bit more significant, but once the hazards are repaired, that eliminates the issue and you should be able to obtain coverage fairly easily. If your property is in such a state that it fails to meet any company's underwriting standards, then talk to your insurance professional about options that may be available in your state. Many states have programs for higher risk properties where coverage, though limited, may be available. Finally, if none of these options are viable, if you have a mortgage, your mortgage company will obtain coverage if only to protect the extent of their interest. The premium will be passed on to you and added to your monthly payments.Answered on April 10, 2014flag this answer
215 POINTSview profileStu CohenFounder, City Building Owners Insurance, Somers, NYWithout knowing the specifics of your situation, I'd add to Tom's excellent answer above that there are a number of "excess" (or non-admitted) insurance companies that may write policies for people who have been dropped or canceled by other insurance carriers. You should certainly check the specific programs available in your state. For instance, homeowners in New York can get property insurance through the New York Property Insurance Underwriting Association and purchase liability coverage separately.Answered on July 20, 2016flag this answer
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