Can Homeowners Insurance Cancel Your Policy?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThe insurance company can cancel your policy for failure to pay the premium. It can also cancel the policy if the underwriter determines that the property was not correctly described or that the agent acted beyond his authority to bind coverage. Companies routinely cancel policies when they determine that a property has been vacated.Answered on August 15, 2014flag this answer
1866 POINTSview profilePaul RothSenior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg ILInsurance companies, as a general rule, don't like to cancel policies, as policy income is important to their bottom line. So, there are few reasons to cancel a policy. Some reasons may include an insurance company pulls out of a state, misrepresentation by the consumer, a building that does not meet the company's minimum requirements, too many claims that are unexplained may be a cause. However, most of the time that I have seen is that simply the homeowner does not pay the premium.Answered on May 1, 2017flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
