FAQ: Why Did My Insurance Company Not Renew My Homeowner’s Insurance Policy?Posted: September 13, 2011
Here is an excerpt from a new blog post at GreggMarcus.com:
An insurance company can cancel or choose not to renew your homeowner’s insurance policy for many different reasons. In some circumstances, it is completely preventable by the homeowner. However, in many other situations, it is completely out of the hands of the homeowner. This is a major issue because having a homeowner’s insurance policy on your home is a non-negotiable with the bank when financing your home. In this post, Gregg S. Marcus, a Long Island Insurance Executive, explains why an insurance company may choose to not renew a policy.
Preventable reasons that a homeowner’s insurance policy may be canceled or not renewed include:
- Non-payment of insurance premiums
- Giving incorrect information or non-disclosure of important information about the home to the company
- Failing to act in accordance with safety guidelines (i.e. not removing things like pools and trampolines).
To read this post in it’s entirety, click here to visit the Gregg Marcus official website.