Home Insurance in Encino>Question Details

John Tashtch…, Real Estate Pro in Encino, CA

Can an Insurance Company Cancel your policy with one Homeowner claim within the past 11 years? Is that correct or ethical?

Asked by John Tashtchian, Encino, CA Wed Oct 16, 2013

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Answers

5
I don't know if it is legal, but it is definitely unethical. Unfortunately, I heard such complains too:( That's why it is important to read your contract while you sign it.
0 votes Thank Flag Link Sun Nov 23, 2014
They can cancel you with or without cause, just as you can do the same.

Kawain Payne, Realtor/Notary
0 votes Thank Flag Link Thu Mar 27, 2014
They can cancel your policy WITHOUT A REASON.
Banks, home insurance companies and health insurance companies share a business platform of collecting penalties or the denial of service to create the profit margins they expect.
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To include the word 'ethical' in the same sentence containing these enterprises would be misguided.
These companies are able to do whatever they please.
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Be aware, the time required to engage in this battle could put the requirements of your mortgage in conflict. Insurance, especailly the ramifications of FEMA & FLOOD, is going to become an alarming issue in the coming year.
0 votes Thank Flag Link Thu Oct 17, 2013
Depends on the claim and also the type of policy you have. The answer is yes it can happen. Should it have happened to you? No way of telling without more information.
0 votes Thank Flag Link Thu Oct 17, 2013
I think that's a great question for a real estate attorney. We Realtors cannot offer legal opinions on the fine print that is on an insurance policy.
0 votes Thank Flag Link Wed Oct 16, 2013
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