You received a letter from your homeowners insurance carrier stating that they will not renew your policy. What are you supposed to do now? First of all, read all the information in the letter. State laws require insurance companies to tell policyholders why the company will no longer provide coverage. The situation may be as simple as this company withdrawing coverage in your region or entire state. This can happen for many reasons, one of which is the company deciding it is paying out too much money in claims there. When you’re ready to begin looking for new insurance, contact an independent agent who can give you quotes from several Homeowner Insurance Companies in Conroe TX and the greater Houston area.
Another reason your policy may not be renewed is if you have made more than one claim in a relatively short period of time. Although you buy insurance to pay for damage to your property and liability if someone is injured there, insurance companies naturally don’t want to take on an exorbitant amount of risk. Some are more conservative than others and will stop providing coverage if underwriting identifies you as a high-risk customer. If two people have been injured on your property within one year, for example, this may be a red flag to the insurer. You also might be identified as higher risk if you own a breed of dog that is prone to vicious behavior. The insurance carrier may not have excluded customers with those dogs previously but might have added exclusions since your last policy renewal.
What can you do now? You need homeowners insurance to protect your assets, and if you have a mortgage, the financing company requires insurance. An agency such as Metro Allied Insurance will help you find a carrier that is a better fit for your particular circumstances. You’ll talk with an agent on the phone or in person and talk about why you need a new insurance policy and the kind of coverage you need. The agent can create a list of Homeowner Insurance Companies in Conroe TX and elsewhere in the metro area that are eager to offer coverage to homeowners like you.
