As climate change makes severe weather-related events more and more common, many property owners find that home insurance providers are starting to deny a renewal of the home insurance on their property. From wildfires in California to increasingly more violent hurricanes in Florida, property owners across the United States are finding themselves in the difficult position of suddenly being without adequate home insurance. Some carriers have elected to non-renew policies due to lack of updates to the property. Other carriers have faced huge financial straints from fraudulent claims. Roof claims have increased substantially due to roofers convincing homeowners to file a claim with their carrier even when it wasn’t warranted. If your home or property is located in an area of concern and you’re worried that you’re facing non-renewal for your property, then keep reading. This article will cover what to do if your home insurer won’t renew your policy.
What Are Your Rights As A Homeowner?
As a property owner, it’s essential to understand your rights when it comes to the non-renewal of a home insurance policy. Any insurance provider is typically required to give you a notice that they don’t intend to renew your policy coverage. Unless you’ve missed a payment or committed fraud on your application, this will need to be given to you at least 30 days before the end of your policy coverage. The state of Florida has mandated some insurance carriers to reduce their hurricane exposure as they have too many insureds in a certain area. You can always contest the non-renewal of your homeowners insurance if you think you were wrongly dropped. Be aware that you’ll need to prove that your home isn’t located in a high-risk area or that you’ve made improvements to help reduce the risk to your property.
What Can You Do If Your Home Insurer Won’t Renew Your Policy?
If your home insurance policy hasn’t been renewed because your property failed an inspection, making some improvements to your home could help your get that coverage back – even if you are in a high-risk area. Fixing problems like leady roofs or exposed wiring can help you keep or get back your home insurance policy. You may also want to consider upgrading your property. A home that is a hundred years old is not as likely to survive severe weather as a modern home built of more robust materials. Home improvements like the ones listed below are more likely than others to help you maintain your coverage if you live in a high-risk zone:
- Install hurricane-resistant windows if you live near the coast.
- Replace older electrical wiring and electrical panels.
- Install a leak detection system with a licensed plumber.
- Replace tanked water heaters that are older than 8 years.
- Replace older roofs – shingle roof and flat roof life expectancy in Florida has been reduced to less than 10 years, tile roof life expectency have been reduced to less than 25 years (generally, but can depend on the carrier)
- Install impact-resistant shingles to mitigate roof damage.
Don’t forget that Dunham Insurance does shop around when possible. Even if your previous home insurance provider decides to no longer supply you with coverage, there may be another insurer that will. If you have made improvements to your home, let your agent know so they can keep records to reduce your chance of being canceled. A new roof on your home could help keep you insured, provide you with additional discounts, or open options for other carriers.
If you believe that you may be dropped from your home insurance policy, it’s best to speak with a professional insurance provider to discuss all of your options. At Dunham Insurance, no matter what type of insurance coverage you need, we take the extra time to make sure that you completely understand your coverage and that it fits your needs perfectly. Contact us today to get a free quote and discuss the home insurance policies we can offer you!