The only thing worse than a denied claim is a canceled policy. Yes, it can happen, and it can happen to you. It’s not completely out of the question for insurance companies in Florida to cut off their policyholders for a certain cause. Don’t find yourself without coverage. This ultimate guide covers reasons why your insurer might cancel your policy, how to avoid a cancellation, and tips for getting what you are owed.
Stay covered in the face of disaster with a team of public adjusters who are by your side through thick and thin. Schedule a consultation with Altieri Insurance Consultants Tampa today!
Learn more > Can A Public Adjuster Reopen My Denied Claim In Naples? Here’s What You Need To Know
Top Reasons Why Insurance Policies Are Canceled In Tampa
There are countless reasons why an insurer might deny a claim, but it takes a lot more to cancel a policy altogether. The key to avoiding crossing the line is to know what not to do.
Here are some of the main reasons why insurance companies in Florida cancel insurance policies after a claim:
Multiple claims in a short period of time can designate you as a “high-risk” policyholder in Tampa, with an increased likelihood of more claims to be filed, causing termination and non-renewal of your policy.
Proof of policyholder negligence, like refusal to upkeep regular maintenance on your Tampa property, can give your insurer a valid reason to deny your claim and cancel your policy.
Misrepresentation or concealment of relevant factors in your policy application can result in claim denials and policy cancellations. Using your property differently than it has been insured will also be grounds for policy cancellation, as well as vacancy or unoccupancy issues that linger for 60 days or longer.
| Florida laws require policies to be active for at least 90 days before cancellation due to fair reasons. Insurers are required to give at least a 45-day notice for cancellations. |
“Acts of God” are not reason enough to cancel a policy, but they can lead to a policy non-renewal when combined with irresponsible or lack of preventive care on the property.
Distinguishing Non-Renewal From Cancellation
What is the difference between a canceled policy and a non-renewal in Tampa? The deciding factor lies in when the policy coverage period ends.
A cancelled policy results in immediate termination. This often occurs in the middle of the policy’s agreed-upon period for coverage, essentially cutting off coverage for the policyholder early, prior to its scheduled expiration date.
A non-renewal still ends with a terminated policy, but termination doesn’t officially occur until the full policy period has run its course to the end of its date of expiration and according to the original terms of the agreement. In this case, the current period for coverage continues per usual, then the policy terminates at its scheduled expiration date, but is not renewed for the next year of coverage by your insurer. In effect, the insurer advises you they no longer wish to insure your property going forward.
| Insurance denials are becoming even more common in coastal populations like Tampa. Make sure you’re hiring the right professionals to help you out!
Read our guide > Rising Insurance Denials In Florida: Why More Orlando Homeowners Are Turning To Public Adjusters |
Did Your Insurer Cancel Your Policy? Altieri Insurance Consultants Tampa Is the Partner Property Owners Rely On For Policy Reviews and Claims Handling Near You!
Our team knows exactly how to respond to denied claims and canceled policies to help you stay covered. Meet with public adjusters who have a history of successful claim stories when you schedule your consultation with Altieri Insurance Consultants Tampa! Call (813) 247-4757 for damage claim services, policy reviews, and more.
