Can A Company Cancel My Policy If My House Is Vacant?
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UPDATED: Jul 16, 2021
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Yes, your insurance company may decide to cancel an existing policy on an insured property that becomes vacant. You will need to review your insurance policy to see if occupancy is a condition for coverage. The big question is what are you planning to do with the vacated property. Are you going to rent it? You’ll need to acquire an insurance policy designed for rental units. The point is that your situation regarding that residence has changed and so you’ll need to review your insurance options given the new scenarios. In some cases, you may need to find a new insurance company willing to insure the “property” under these new conditions.If you move away from a residence, make certain that you leave a forwarding address (or better yet, contact the insurance company) so that you will continue to receive any notices from the insurance company.