If you have bought a home, it represents your dreams for the future. Most homeowners understand they must buy home insurance to protect their investment. If your home is in or near Chicago, IL, our team at the Arial Insurance Group can help you understand all the facts you need to know about home insurance.
What if Your Homeowners’ Insurance Policy Is Canceled?
According to the Illinois Department of Insurance, if your home insurance policy is canceled, you have certain rights. If your company cancels the policy in the beginning (before coverage begins), it is called a recission, and you won’t receive any coverage, but any money you pay will be refunded. If the company cancels your policy before its expiration date, it is a cancellation, but if they cancel it on the expiration date, it is nonrenewal. Insurance companies can take those actions only under certain circumstances.
If any of these things happen with your home insurance, it’s your right to ask the insurance company for an explanation. If the problem is due to insufficient funds, you may be able to correct that problem and reapply for the insurance policy. If your insurance policy is canceled, the agency is required to send you a notification explaining its reasons. According to the Illinois Department of Insurance, you have the right to appeal the cancellation.
Call Us Today for Your Appointment
Home insurance policies are not all the same. Our team at Arial Insurance Group understands that your needs for a home insurance policy are unique to your situation. Homeowners in the Chicago, IL area are learning they can turn to us for all their insurance needs. Call us for an appointment today, and let’s talk about insurance.
