Condo insurance cancelled

I have an auto insurance policy in good standing with payment withdrawn monthly from my bank. I had condo insurance but the payments were billed to visa. A couple of times the charges went through before my payment cleared the bank rendering them NSF. When I found out about each issue I called the insurance company and payment was made immediately, Unfortunately, after the second time my condo policy was cancelled. I have waited until my auto insurance needed to be renewed to reinsure my condo so it has not been insured for 5 months. Because there has been a lapse in time there seems to be an issue reinsuring my condo. Apparently there is some sort of policy that the company cannot insure my condo for 3 years. What can I do to rectify this problem. Will other companies refuse to insure my condo.Offering full payment for a policy did not change things.


Condo Insurance


Hi there,

The longer you wait to find coverage, the tougher it will get to find an insurer willing to take you on. Insurers get concerned about people who don't seem to care if they have coverage or not. The longer you wait, the more it seems that you don't care. They call this a "moral risk".

Please be sure to discuss this with a licensed insurance representative. And you can try getting quotes here:

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Note: Always speak with a licensed insurance professional about your specific situation. 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.

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.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

Please Read

Compare insurance quotes through Kanetix.ca - save time and money!