Cancel homeowners insurance

Your insurance company must provide written notice of cancellation.

Your deed of trust contract requires home hazard insurance at specific coverage levels on the property at all times. Failure to maintain insurance places your contract into default and puts you at risk. Homeowners insurance protects your investment in the event of natural disaster, fire and other damage. If you allow your policy to lapse, you can call your homeowners insurance to reinstate your policy or buy a new policy with another company.

Your homeowners insurance company may cancel or not renew your insurance policy for non-payment, fraud, misrepresentation or physical changes to the property. Your company must provide written notice 20 days prior to cancellation or 10 days prior to cancellation for non-payment. The insurer must notify you 45 days prior to not renewing your insurance policy. Failure to give proper notice for non-renewals keeps your policy in place for 45 days after the notice is sent.

If you want to keep your current insurance policy, contact your insurance company to fix the problem. You may be able to reinstate your policy if you pay your past-due bill. Some insurance companies cancel policies if the house is vacant or if there are physical changes to the property. Address the issues of your insurance company and request reinstatement of your policy.

If you are still denied insurance, provide written notice to your insurance company that you are disputing the cancellation and request remediation. If the insurance company still refuses to insure your property, you may file a complaint. Insurance companies are forbidden to discriminate against customers. If you believe you are being unfairly treated, you may file a complaint with the Department of Insurance via its website. The department investigates your complaint, talks to your insurance agent and makes a ruling. If the department finds no fault with your insurance company, you'll have to find new insurance elsewhere.

The insurance industry provides high-risk insurance policies to homeowners who cannot be insured by traditional means. Fair Access to Insurance Requirements Plans, or FAIR Plans, often cost significantly more than premiums on traditional homeowners policies. In addition, FAIR plans offer less-than-favorable terms and conditions.

As a last resort, your lender may institute force-placed insurance on your property. As part of the terms of your contract, you must have insurance on the property at all times. If your insurance lapses, the lender is within its rights to buy insurance on your behalf and increase your mortgage payment to cover the cost of the insurance. Lender-placed insurance is costly and may not offer the levels of coverage you want to protect your investment.

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