Home insurance protects the largest investment you will probably ever make and is also mandatory if you have a mortgage. However, it can be quite distressing when your home insurance is canceled. At Focus Insurance in Eureka, MO, we are here to help when a cancellation happens.
Non-payment of premium
One of the most common reasons for home insurance policy cancellation is non-payment of the premium. Most carriers allow a grace period, and even if you have gone beyond that, if you are a long-standing customer or regularly pay on time, it is probably not a big issue. Getting it reinstated with your agent’s help should be rather easy.
Not maintaining your home.
Your home insurance company conducts periodic inspections. If they inspect the exterior of your home and notice maintenance issues, they will most likely send you a letter specifying what they expect you to do. If they don’t hear from you, there is a chance your policy will be canceled. Once you complete the repairs, you can send them a photo to show proof of your compliance.
You misstated facts in your application.
If you misrepresent facts on your application and it is discovered, your policy could be voided. You may also have a claim denied, receive a low payout, or even face an insurance fraud charge. It just isn’t worth it.
Regardless of the reason for the cancellation, speak to your insurance agent immediately to secure alternative coverage. You need to ensure that the mortgage company doesn’t enforce a policy on you as it would not be to your advantage.
When you need a new home insurance agent or a new carrier, Focus Insurance in Eureka, MO, is here to help. Give us a call to discuss your needs.
