How To Keep Your Current Insurance Plan

When you buy an insurance policy, the insurance company often has the right to terminate the coverage anytime during the first sixty days after the policy's effective date. After that, there are very few situations in which they can drop you during your policy, and those that do exist are quite unlikely. Your insurer has the right to choose not to renew your policy when it is time to do so, usually after one year. Before canceling your insurance coverage, the firm must provide you with at least one or two months' worth of advanced notice. If they don't, you should call the insurance department in your state.

During the first few months after the purchase of your homeowner's insurance policy, as well as when it is time to renew it, you will want to make sure that you maintain continuous coverage. Because of the unique characteristics of each insurance provider, the decision of whether or not to renew a policyholder's coverage may be based on one of several distinct justifications. The two most important things you can do to keep your health insurance coverage are to be responsible for paying your premium and to limit the number of claims you submit.

The fact that you have filed multiple claims is evidence that you are a high-risk customer, and your deductible goes up every time you submit a claim. Therefore, you should only file a claim when it is required. In most cases, it is in your best interest to handle minor repairs that you can fund on your own rather than submitting a claim with your insurance carrier. If the cost of repairs would be around the same as or just slightly higher than your deductible, this indicates that it is in your best interest to avoid involving the insurance company.