|nsurance cancellation
by Beth
I am a co-signer on a mortgage owned by a family member. They were to keep the place insured. The insurance was canceled. No one notified the bank or me of the cancellation. We only found out when the place burned down. Shouldn't the bank and I have been informed by the insurance company our assets were no longer covered? Mortgagee NotificationHi Beth The normal practice for most insurers is to notify the mortgage holders if the policy is canceled. You might have legal remedy available if you were not advised. Good luck! 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 |