Under what conditions can a homeowners Insurance policy be cancelled ?

I've had State Farm Ins for the last 6 years next to only 2 claims when a neighbors tree fell on my house during a storm & caused overexploit to my roof.

My Insurance is included with my mortgage, is always salaried on time in full annually. Out of the blue for no basis State Farm contacted my bank & said they're cancelling my Insurance. Why would an Ins company do that?
Othneil ... moral advice except that this person will inevitability a new agent as State Farm won't let their agents get rid of anything but State Farm insurance.

btw, be sure to ask agents you interview if you can get a deal on auto insurance from the company that have your homeowners -- many large companies do this and it does collect a bit.
You were probably not singled out by State Farm. These companies are other trying to keep their risk to a minimum and make decision like this one. In FL many companies hold tried to reduce their exposure to risk by cancelling policies surrounded by high risk areas.

State Farm in FL is within process of cancelling all home owners policies. The State is negotiate with them but it is anybodies guess as to the outcome.

In your situation the company should have informed you at duplicate time as the lender. Nevertheless, you need to find insurance because if the bank does it for you it will be fundamentally expensive. Call your agent since he is caught in-between the company and wanting to provide insurance for you. Investigate other insurance companies and compare coverage and price.
They always enjoy that right. Instead of wondering why, find new insurance ASAP.
Well, consider yourself lucky, one of the worst deals within home financing is including insurance and taxes in with mortgage payments. You are paying a steep levy in interest/handling charges for this service, and you can do better by providing your own insurance and paying your own taxes. Get on the phone and start looking for a new carter. Unless your house and neighborhood are less than normal (upkeep wise) you will be surprised at how affordable it will be, arrange for monthly payments if to be precise what you can do, otherwise pay the whole premium at one time.
Any insurance company can quash you after 2 claims. Call your insurance agent and ask them to contact their main office. The agent can ask the underwriter to hold on to you. Call the agent for help.
~~Any homeowners insurance has the right to cancel you at any time. Great system, huh?! I am surprised this happen to you with State Farm though, I have have them for 30 years and they have been wonderful.~~
The insurance company can cancel the policy if from the clients side here is misrepresentation or non-payment of premium.
On there side if they find that the claims are dignified, or it is considered a high risk and does not fall inside the norms of the standard risk since State farm is a standard personal insurance company. Secondly, they can disallow renewal if they are trying to get out of this business, which is likely the travel case in Florida.
IF they decide that your roof looks to antediluvian to them, that can make it cancel.
IF they received payments too deferred frequ.
If the ins guy is a jerk.
They contacted your guard and said they were canceling, but didn't contact you? That seems strange.

I work for a property and casualty insurance company (not State Farm). When we contact the sandbank and say we are canceling but we don't contact the insured, it is because we were informed that the mortgage be paid off. In that grip, the insurance wasn't canceled; the mortgage holder was removed from the policy. First thing to do, be in motion to your agent and find out if the insurance is actually being canceled or if the mortgage holder be removed. If the mortgage holder was removed by accident but your insurance is still contained by force, State Farm needs to fix the problem and add them put money on on. (Your agent should contact them for you.)

In force insurance can only be canceled for a few reasons. Since your insurance is compensated annually by your mortgage holder from an escrow account, they can't be canceling you for nonpayment of premium (most common rationale for cancelation). Most other reasons for cancelations during a policy period would not give the impression of being to apply to you.

However, they could be nonrenewing you. If they are pulling out of a market, they could be nonrenewing everybody in your state. If the contract between them and your agent is mortal canceled, they will nonrenew you for this reason. If you have too lots claims, they could nonrenew you. If they have found that you have not properly maintain your property, they can nonrenew you. However, in any case of nonrenewal, they will verbs to provide coverage up to the end of your current policy period.

In accessory, whenever an insurer cancels or nonrenews your policy, it will send you a memorandum telling you that they have canceled or nonrenewed you. The notification will state the reason why they have taken this doings.

Speak to your agent about this matter. The sooner you clear up any misunderstanding, the easier it will be to contract with it. If State Farm is pulling out of the market within your area, you have no choice but to find another insurance company to concord with. If you had the situation where on earth the contract between your agent and the insurer had not been renewed, later you have the choice to get a policy next to a new insurance company through the same agency, signing a statement of agency swing to maintain the same policy near another agent who deals with indistinguishable company, or getting a new agent and a new insurer.

If you enjoy failed to maintain your property, afterwards you have a problem. Any insurer will want an inspection of your property before issuing you a modern policy. If State Farm canceled you because of its condition, then other insurers likely will not want to cover you any. If your property is in bad ample condition, they could cancel you during your policy period, but they enjoy to give you quite a bit of make out.

How much notice they have to contribute you for cancelation of in force policy or nonrenewal of a policy varies by state.

In any baggage, you could very well be best served by going to an independent agency, one that have contracts with many insurers to win the coverage you need. They can look at many alternatives for you. State Farm does not work near independent agencies. You agent has a very controlled choices for you. Source(s): Experience in property and casualty insurance.

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