That’s right; your home insurance company just sent you a letter that your home insurance in Naples, FL is canceled. What now? Prepare to act quickly by taking a deep breath. There isn’t much time left to get things back on track so you can protect your home and meet your mortgage payments.
Difference Between Canceled and Nonrenewed
Cancellation and nonrenewal notices about home insurance in Naples, FL require you to find new house insurance. But there are some key differences. A cancellation notification means the insurer ends a policy early. Coverage will cease before the original expiration date.
When your insurance provider reviews your policy to renew but finds the home no longer fulfills its standards, it issues a nonrenewal letter. Every firm has different underwriting rules, so what’s uninsurable for one may be for another.
What to Do If Your Insurance Is Canceled
Call your insurance carrier immediately if you get a cancellation or nonrenewal notice. It may be possible to maintain coverage. You may only need to pay your premium if you missed a payment. Sometimes, insurers let you fix the issue before cancellation. If your roof no longer meets insurer underwriting standards, this may happen. Replacement may qualify you for coverage. Unless your insurance company offers a remedy, you should look for a new home insurance quote.
Why Home Insurance Gets Canceled
Underwriting from a company such as Company Name might cause home insurance cancellation notices. Most states allow insurers 60–90 days to evaluate policy material after binding. These are underwriting discovery periods. Your insurer may terminate your coverage if it finds something wrong with your home during underwriting. During and after the discovery period, rare reasons for cancellation include a significant risk change, fraud, or nonpayment.
