house insurance cancelled; two week notice

by Cath R
(windsor on)

Hello,


Can you please tell me if there is a minimum length of time an insurer must give an owner of a rental house before the policy in good standing for 15+ years is canceled?

I received a surprising cancellation on my property today with only two week notice. There were no reasons given other than a vague reference to underwriting risks.

Also, what does 'account will be reconciled' mean in this situation?

thank you!,
Cath R

Home Insurance Cancellation


Hello Cath,
It's very frustrating when there is so little information shared.

The letter probably referred to "underwriting rules". These are internal rules that the insurer has for home insurance. It can be a variety of things that revolve around the likelihood of a claim occurring. This could be the age of the house, updates to the house, the occupancy of the house, and a number of other reasons.

If this cancellation has occurred at a time outside of your renewal, it likely means that something has changed at your home that is not acceptable to the insurance company.

The reconciliation of your account simply means that you might owe money to the insurer for time insured, or maybe they owe you money if you prepaid.

Sorry this answer can't be more specific.

Home insurance quotes compared online in minutes


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.

www.canada-insurance-source.com

OR visit Canada Home Insurance

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to House Insurance Questions and Answers.

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!