Learn how to keep your home insurance from canceling

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Learn how to keep your home insurance from canceling

There are many reasons why your home insurance can be cancelled, including inadmissible, risks found on your property, a large number of claims or great loses to name a few. No matter the reason why this may happen, it’s very important that you take the right steps in order to find new home insurance coverage so that you avoid potential gaps in home protection.

Why Home Insurance is Cancelled

The moment an insurance company cancels your home insurance, it needs to offer you a written notice about their action. If you want to learn more about the reason your insurance was cancelled, it’s best that you get in touch with a representative of the insurer. In general, the reasons policies get cancelled are as following:

Poor payment history: When you plan on renewing your insurance policy, your payment history is also going to be carefully reviewed by your insurer. In general, even if you didn’t have a perfect payment history, this alone is not enough to get your policy cancelled. However, together with some of the factors we mentioned above, this can lead to a policy cancellation. To ensure your payments are always timely, it’s recommended that you pay your policy premium through an automatic deduction of a checking or savings account or through your mortgage escrow.

Large claims for damage you cause: It’s pretty costly for insurers to cover large claims and if you’re the one that caused the damage, then there’s a very good chance your policy may get cancelled. Your policy can be cancelled regardless if you’ve mistakenly or intentionally damaged your property.

Unacceptable risks found on the property: A home found in disrepair may get your insurance policy cancelled. When you plan on renewing your insurance, the insurer may request photos and a curb side inspection of your home to be performed. If they find out that your property is in disrepair, then they have enough grounds to actually cancel the policy.

Before you head out, you’ll want to secure the reliable protection that will leave your home and belongings safe. Get started on your home insurance policy that will protect your future and finances – Call us today!