Cancellation
by Vicky
After a year,I decided not to renew my house insurance when it came up to be renewed. I just didn't go in and renew it. I was not told that I needed to sign it off when I took it out. I kept receiving bills, so I called in and told them I was not going to renew it, and was then informed that I needed to sign off which I did. This was 3 months past the renewal date. I have now received a bill stating that I owe a third of the yearly payment, even though if I had needed to cash in on the insurance because of fire, etc. I would have received nothing because my insurance was not paid up. Home insurance CancellationHi Vicky, Until your policy is officially canceled (i.e. you get a notice saying it is canceled or you sign something), a claim will likely be paid. Insurers should not take a verbal cancellation. It is too easy to deny that you canceled. That's why you are being billed. Ask another question at House Insurance Questions and Answers Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page. OR visit Canada Home Insurance |