How Can I Get Homeowners Insurance After Non Renewal?

What is Homeowners Insurance Non Renewal?

Receiving the news that you can’t just automatically renew your home insurance policy can be shocking and stressful. The good news is this: it doesn’t come completely out of nowhere. Unlike a policy cancellation, which can happen at any time, a non renewal can only occur at the end of your contract each year, when your policy is up for renewal. There are a number of reasons why an insurance carrier can decide not to offer you a home insurance policy renewal. Understanding why your policy is non renewed is important in guiding how you decide to move forward and find coverage for your home.

>> RELATED READING: What is the Difference Between Policy Cancellation and Nonrenewal?

Why Does a Non Renewal Happen?

Homeowners insurance non renewal can happen to anyone. Most commonly, an insurance carrier will decide against renewing a policy for one of the following reasons:

• You failed a home inspection
• Your new pet is on your specific carrier’s list of banned animals
• You have a new attractive nuisance (for example, a trampoline)
• The carrier no longer provides insurance in your area
• Your previous policy type is no longer offered by the carrier
• You have made too many claims
• Your credit has dropped significantly

3 Steps to Get Homeowners Insurance After Non Renewal

1. Try to fix the reason for the non renewal.

If your roof is in disrepair, for example, an insurance carrier may decide not to renew your policy until you fix it. If you pass a follow-up home inspection, your carrier may insure you again. When that’s not the case, fixing the issue will help you find reasonably priced insurance with another carrier.

2. Shop for a new policy with other carriers.

Sometimes, with changes in the market, an insurance carrier may stop serving a certain region altogether. If you have a new high-risk pet or attractive nuisance, for example, there are certain carriers more willing to accept those risks than others.

3. Consult an insurance agent about the best options for you.

That starts with telling the insurance expert why your homeowners insurance will not be renewed with your current carrier. Once your agent understands your situation, they can find an insurance carrier and policy that works best for you. The agent may also explore options such as a policy that excludes a specific high-risk item or a separate, high-risk policy, such as umbrella insurance.

Our Experts Are Here to Help

At TGS Insurance, we work with an extensive roster of over 55 A-rated carriers. Our agents are dedicated to understanding your insurance needs and finding the best deals on the policy that makes sense for you. When you need to find a new insurance carrier after a homeowners insurance non renewal, the experts at TGS Insurance are here to help. Start exploring your options today with a free, instant home insurance quote, no strings attached.