Why did the company cancel my home insurance? One day, just like any other, you receive a letter notifying you that your company will cancel your home insurance. Phew, what news, what should you do now?
Well, all is not lost, you have time to find another insurance. But before that, it would be good for you to know why the company has decided to cancel your policy.
An insurer cancels a contract for several reasons. The most common one is when a client stops paying. If that’s not the case, it could be because they discovered some fraud when the insurance was taken out. For example, the client may have lied about their identity and taken out the insurance under someone else’s identity.
The contract can also be canceled if the client radically changes the structure of the insured house. If the insurer considers these changes make the house more unsafe. Some clients build a swimming pool without notifying the insurance company, and that can be grounds for cancellation.
Another reason may be that the property remains uninhabited. Vacant houses are more susceptible to burglaries. If the house is going to be vacant, most insurers require to be notified within the first 30 days.
The last reason is that companies avoid clients who file many claims throughout the year.
If your home insurance policy has been canceled, don’t despair, call Univista Insurance, and our advisors will help you protect your property, especially now that hurricane season is starting. Why did the company cancel my home insurance?
Call us today for a full qualification! (305) 267-7138. You can also quote for free here.
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