HOME INSURANCE

Homeowners Insurance

Condoowners Insurance

Renters

Buying a Home

Selling a Home

Home Safety Tips


CAR INSURANCE

Car Insurance guide

Buying a Car

Safety on the Road


LIFE INSURANCE

Annuity Guide

Retirement planning


HEALTH INSURANCE

Choosing a health plan

Disability income guide

Your Health at Work


TRAVEL INSURANCE

Trip Protection

Car Rental insurance

Flight insurance


OTHERS

Small Business insurance

Boat Insurance

Debt Consolidation

 

Why would my insurer cancel my policy?

Technically, in most states your insurer can cancel your policy only if:
  • you fail to pay your premium;
  • you lose your driver's license;
  • you are guilty of material misrepresentation during the application process--i.e., you fail to notify your insurer of a recorded violation, such as a drunk-driving offense; or
  • you fail to report a substantial change of risk, such as buying a high-powered sports car to replace a family sedan.
However, your insurer can choose not to renew your policy for a variety of reasons. Do you have a bad driving record? Have you received a lot of speeding tickets? Have you ever been caught driving drunk? Not only are these scenarios considered unsafe and illegal, they are justifiable cause for your insurer to label you a bad risk and refuse to renew your policy. (Some underwriters may feel compelled to cancel policies after only one accident.) Where do you live? Has the neighborhood changed in the last few years? Have the accident or crime rates risen noticeably? As regions are reassessed periodically, their status could change and you could suddenly find yourself living in a high-risk area, where your insurer's rates may not be adequate to cover losses.








Back to

Back to:
- Car Insurance Guide
- Car Insurance

Websites of your interest

Websites of your interest:
- Translate
- International Jobs