What Happens When Homeowners Insurance Is Cancelled?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaCoverage ceases. The insurance company will notify any party having an "interest" in the policy (these are named in the policy.) For example, they will notify your mortgage company. Any losses that take place after cancellation will not be honored by the company. Often the company will require complete underwriting to issue a new policy on the same property.Answered on February 25, 2014flag this answer.png)
1844 POINTSview profileDavid W. ClausenChief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778You will no longer be provided coverage that is afforded under the contract. You will need to re-apply for coverage. Many times a company will reinstate the policy as long as you sign a "no loss letter" stating that you have had no claims during the time the insurance policy has lapsed.Answered on September 8, 2015flag this answer
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