What do I do if i lose my home insurance policy?

Losing insurance

There's a big difference between canceling the policy and not renewing it.

The cancelation means you or your insurance provider terminate coverage before the policy's regular expiry date (usually 12 months after the policy starts). You can cancel your policy for any reason. When you're a new policyholder, there's a limited period (typically 60 days) when your insurance provider will cancel your policy for any reason. After that, it can only cancel you if you don't pay your premium, if you've cheated on your application, or your risk has significantly changed.

If your insurance provider cancels your policy, you must inform. The number of days varies by state. If you or the insurer cancels your policy, the insurance can reimburse your premium part.

Non-renewal means you refuse to extend your policy after it expires. Insurance firms prefer not to renew the policy. If your company decides not to extend the policy, the number of days (typically 30 days before the renewal date) varies by state. You may ask the insurer why. You can also opt not to renew.

What if you can't find insurance?

Contact the state insurance agency to see if your state has available a Reasonable plan, wind pool, or other residual market structure details or market assistance program. See below for contacting the insurance department.

For more specific details

• If you can't find insurance, consumer rights, premium comparisons, or complaint handling information, visit your state insurance department's website. In Texas, if two different market carriers have denied you insurance, you can buy the Texas Fair Plan policy. The department will have some website information, plus contact information if you have any questions. To find your state department's website address, visit the NAIC website at www.naic.org/state web map.htm and pick your state on the index.
• Visit consumer websites: www.InsureUonline.org or www.naic.org.
• Visit National Flood Insurance website: www.floodsmart.gov.
• View your annual credit report at www.annualcreditreport.com or call 877-322-8228.