1. 1909 POINTS
    HDA Insurance BrokeragePRO
    Director, HDA Insurance Brokerage, California
    Homeowners Insurance can be cancelled at any time by the Insured.   The Insured may be required to submit a signed request to cancel the policy;  it is important to purchase a new policy and make sure it is effective the same date as the cancellation of your old policy.   

    All policies have a Standard Time of inception and expiration at:  12:01 a.m.     There is an online link available to obtain a quote and purchase Home Insurance directly online in multiple States.  

    The link is:   http://bit.ly/1954BTO

    If the reason for changing carriers is due to an issue with an inspection which was conducted (interior or exterior) on your property,  we must advise that all carriers are now inspecting risks which means you will most probably have the same issue with another carrier. 

    On the other hand, an insurance carrier has legal restrictions regarding the cancellation of an insurance policy;  they may only cancel a policy for any underwriting reason during the first 60 days of a new insurance policy.   They may cancel a policy at any time for non-payment of premium following the State requirement for legal notice.  

    Answered on February 15, 2014
  2. 1844 POINTS
    David W. ClausenPRO
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    In the voluntary market you can change or endorse or cancel your insurance whenever you would like. The voluntary market is what 95% of homeowners purchase. Unless you have massive claims, terrible credit or some other extenuating circumstances you are likely placed in the voluntary market.

    Most popular changes include changes to deductibles, coverage, billing, mortgage company amendments, to name a few. It's advisable to review your homeowners insurance every year to make sure you are getting the most value- the most coverage for the least amount of premium. We suggest raising your deductible as high as you are comfortable with to reduce costs to the property owner while maintaining coverage for "the big one".
    Answered on October 25, 2016
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