Recently we received a call from a homeowner stating they had possible issues with their home. They wanted Fair Claim Experts Public Adjusters out to inspect. Per the homeowner, their insurance company had recently ‘canceled’ their policy. They were concerned with repairing damage without assistance from insurance.
As licensed public adjusters in Florida we run into questions, or in this case, misconceptions such as the above frequently. We strive to inform our current and future clients of their rights, as well as provide accurate and correct information. Our hope is to help you understand how to maintain your greatest assets, using insurance as the resource it is to protect your livelihood.
In Florida, for the most part, no insurance company can abruptly cancel an insurance policy during the middle of the policy period. The most common situation a homeowner faces is a non-renewal: where they will no longer have a policy with the current insurance provider after the current policy expires.
A non-renewal means the insurance company has elected not to continue to offer any coverage after the policy period ends on the dwelling, automobile, etc. The policy will not renew even if you would like to continue your coverage.
Everyone is susceptible to a non-renewal. Even us public adjusters are subject to these issues as I personally have been given non-renewal notice this year.
Should I be worried? Did I do anything wrong?
No. There are numerous causes for a non-renewal from an insurance company to an existing policyholder. Don’t think for a second your policy has been abruptly canceled during the policy period. And don’t think you’ve done something to cause a non-renewal.
Recently numerous insurance companies have withdrawn coverages from the state of Florida, leaving many homeowners under the impression they have been canceled due to doing something wrong or possibly due to their filing a previous claim, successfully or not.
For the average insured homeowner neither is the issue. The issue lies with the insurance company no longer providing coverage to ANY homeowner in Florida, each insurance company citing their own reasons for doing as such.
If you are a homeowner who has been affected by the changes, there are other options within the state to provide coverage for your home.
Additionally, if there are previously unknown damages discovered and are deemed to have occurred under your previous policy, the insured has 4 years to file a claim per state of Florida statues. It is important to note that if you discover damages to your home for any covered peril and delay notifying the insurance company a homeowner risks losing the claim as it is required to report discovered damages within 24 hours.
If you have concerns about any area of your home that may have damages, please do not delay addressing, as even a small area of concern can be a major issue hiding behind a bathroom wall or above a ceiling.
Here at Fair Claim Experts Public Adjusters, it is our duty and goal to ensure every homeowner understands what their policy does and does not cover. Schedule an inspection and make sure a small problem today isn’t a problem hiding behind one of your walls to discover when it’s too late.
