What to do if your home insurance policy is canceled?
Losing your homeowners insurance coverage can be frustrating and stressful, but there are steps you can take to address the issue. First and foremost, do not ignore the problem. Depending on your location, your insurer should provide you with one to three months' notice if they are not renewing your policy. This may not be a lot of time and that's precisely why it's so it's important to start looking for a new policy as soon as possible.
Here are some steps to consider:
Your insurer may have explained the reasons in writing, but it's also worth contacting them to discuss the decision and ask for more information.
If the cancellation was due to property condition issues, you will likely need to address those problems before another insurer will provide coverage.
If you're unable to find coverage with traditional insurers, some states have what's known as a FAIR plan, which is designed to provide insurance to those who cannot obtain it elsewhere.
IN CONCLUSION:
Act promptly if your home insurance policy is canceled.
Take steps to find a new policy and address any property issues that led to the cancellation.
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