lapse in insurance
by Ian
Our home insurance lapsed for 4 days from the company we were with. While trying to get insurance from another company they said they would not insure us because we currently did not have insurance. We have no issues with any home insurance company and never had a claim for 20 + years. Whats up?? Refused InsuranceHi Ian, I am guessing you have coverage in place now. But the first company you went to likely has a policy of not insuring people who have lapsed insurance or first time insureds. This is a "risk selection" decision and they feel you are higher risk than they want. Nothing personal.  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 www.canada-insurance-source.com |