HometownQuotes works with insurance companies across the country to help you find the best Homeowners Insurance and lowest insurance quotes in your area.
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Reader’s question:
After having never filed a claim in years, I had two large catastrophes befall me last year, and I had to submit two claims. Now, my homeowners insurance company won’t renew my policy. Is that normal? Can they even do that?
-Adele
Unfortunately yes, they can, Adele.
Each company has an individual style of determining risk, and as a result, some can be short sited about their underwriting guidelines. These guidelines, which assert how much risk the insurance company will assume, each have their own formula for determining risk, and some weigh certain things more heavily than others. Most state laws permit an insurer to drop a homeowner’s coverage on the policy anniversary date, provided they give the insured a month’s advance notice—in writing-and give the specific reasons why they chose not to renew.
If you are in this situation, the only thing you can hope to do is to quickly find a new insurance company before you are released from your policy. There are several sites which allow you to get a home insurance online quote, and you may have better luck finding a policy through these sites. Be sure to remember your premiums may go up for the next few years!
April
Filed under homeowners insurance by insurance