Unfortunately, some homeowners find out that their Home Insurance Brighton has been canceled. This can happen if the owner does not take steps to ensure that they’ve done nothing to risk cancellation or if they avoid an issue believing the company cannot cancel. Read on to learn why a homeowner’s insurance company may cancel a policy.
Getting Canceled Before a Devastating Loss
Finding out that a home insurance policy has been canceled is bad enough, but a total loss can make the news even worse. It’s rather unfortunate that a homeowner would pay premiums for years to protect their home and belongings against various perils only to find their policy has been canceled right before a loss that would otherwise have been covered.
Make Payments On Time to Avoid Cancellation
It’s very simple to keep a homeowner’s policy up to date by following its guidelines and making timely payments. By staying current on payments and abiding by the insurance company’s rules, the company will have no reason to cancel the policy.
Learn Why Policies are Canceled
If a homeowner wants to ensure that they are doing everything possible to keep their Home Insurance Brighton in effect, it’s good to know why policies can be canceled.
• Bad payment history: This is the most common reason why policies are canceled. In most cases, homeowners have a thirty-day grace period, but they should check with the company to be sure.
• Too many claims: Homeowner’s insurance is for emergencies only. If one uses their coverage for every minor incident, the company may feel that they’re facing an unacceptable risk. By raising the deductible, homeowners can save money and discourage themselves from making frivolous claims.
• Property in poor condition: Upon policy renewal, Sawyer Insurance Agency Inc. may send an agent out to inspect the property. If the home needs too many repairs, the insurance company might decide that the risk is too high to continue offering coverage. It’s the homeowner’s responsibility to reasonably maintain the home, not the insurer’s.
Homeowner’s insurance through is there to protect the insured from unexpected losses, but it’s not a substitute for proper maintenance. By learning why policies can be canceled, and by taking steps to ensure that coverage doesn’t lapse, homeowners can protect themselves in the event of a loss.
