What Happens If My Home Insurance Lapses?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    If your home insurance lapses because of non-payment of premium, you will be notified that all coverage ceases and that the policy is no longer valid.  If you have a mortgage, the mortgage company will receive the same information.  The mortgage company has the right to order coverage to protect their interests and do so without regard to your desires.  Aside from the issue of money, the worst thing is that a claim might occur and you would be “bare.”  There wouldn’t be anyone to stand with you in a lawsuit, there wouldn’t be anyone to repair your damaged home or replace your personal property.  It could be an extremely costly omission.
    Answered on May 21, 2014
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>