What Happens If Home Insurance Is Cancelled?

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   Aside from the obvious dangerous loss of coverage, you may have problems with your Mortgage Company.  If you have a mortgage and your insurance cancels, it is likely that you will receive a letter asking you to provide proof of coverage.  If none is provided, it is likely that the mortgage company will obtain coverage on your home in THEIR interest and pass on the cost to you through your monthly mortgate payments.  If you had been paying your insurance provider $1000 a year, you can expect that the mortgage company insurance policy will run you substantially more than that, say $3,000. And remember, it covers their interest, not yours.

   Answered on June 3, 2013

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