Home Insurance Company
Homeowners might see the home insurance company as a necessary evil. The coverage will help the homeowner to protect the house, investments and other belongings. That is how the insurance gives the benefits when things happen accidentally. However, these kinds of payments will also hurt your wallet. Believe it or not, the insurance company will probably drop or not renew your policy.
There are many kinds of reasons you can believe when a company does this to the customers. Of course, it is regarded as the policy violation, fraud and also another high risk that will be a burden for the company. This will lead you to a hard time!
Here is a short list why certain home insurance company will cancel your policy renewal.
Reasons Why A Home Insurance Company Drop You
The company might cancel your policy if you do multiple claims. It is due to the conclusion of a high risk in your home which this will lead you to a higher premium or even the entire cancelation.
Living In The High-Risk Area
For certain individual basis, the ho use insurance company might drop a customer when they do multiple claims. They also will not take a responsibility for the natural disaster. If you are living in the coastal region, this probably the reason because your house will be prone to get destroyed by the tornadoes, hurricanes or flooding.
Unacceptable Risk After Inspection
The house insurance company may cancel your existing policy after they inspect the property and find some unacceptable risk. For example, potential fire hazards will be one of the strong reason.
Some people might a little bit surprised when the old roof can lead to cancelation. The maximum life expands of your roof is 30 years. If your house beyond this limitation, this will lead to cancelation due to some possibilities in your house. This might be water leaking, tumbled down the roof and so on. Keep in mind the insurer will check your house periodically and so on.
What Can I Do When A Home Insurance Company Drop Me?
There is always a strong argument to stop them dropping you. One of the ways is reviewing your claims and analysis it. The following points might help you a lot.
- The claim worthiness
- The reason for each claim
- Were they related? To each claim you made?
- Did this occur in the same address?
- Can you mention the reasons that make your house less risky? For example, you already fixed some broken things so it makes your house less risky.
Once you have done this, now it is time to present your case and prove it. Good luck.