There is a great article by Les Masterson on Realtor.com. The 4 Most Common Reasons Why Your Home Insurance Company Will Drop Your Coverage
In it he covers the common reasons why your home insurance company may decide to cancel or not to renew your home insurance policy. In summary, here are the 4 reasons:
1. Old Roof
Well it is actually the age AND CONDITION of the roof that matters. I am not surprised by this one. Today in my neighborhood there is a home for sale that was built in 1986 and it still has the original roof! It is listed for $479,000- I doubt it will sell unless the roof is replaced or some provision is made in the sales agreement.
2. Too many claims
I know you are asking yourself why do I buy insurance? Well, frequent claims can cause your current insurer to not renew- or to even increase your costs dramatically. As a NH Home Insurance agency we shop home insurance for our clients all day long. We are so frustrated when we see a client with 2 claims and one is for only $400. (If it's under a $1,500 we suggest that you do not file the claim...you can lose a loss free discount, your rates can increase and if you have a significant claim in the future it may result in cancellation or non-renewal!) Having more than one claim in a short time period can make it difficult to get attractive home insurance rates!
3. Insurer stops offering in your state or area
4. High Risk Pets
Many NH home insurers will NOT write your home insurance if you have a high risk dog (They include Pit Bull, German Shepherd, Akita, Chow, and Akita).
Today dog bites are the most common liability claim on a home insurance policy and cost insurers $700 Million annually. The typical amount paid out for a dog bite claim is $37,051. As a NH Home Insurance agent we have some good news we have a NH home insurance company that will work with home owners who have dog bite history. So please call us if you have need a quote!
Please see the entire article for more info- it is well done!
If you have any questions about your NH Home Insurance or MA Home Insurance policy- or if you want a NH Home Insurance Quote please give us a call at 1-888-882-2909.
Atlantic Insurance & Benefit Company specializes in Nashua, NH Home Insurance and the surrounding community.
In it he covers the common reasons why your home insurance company may decide to cancel or not to renew your home insurance policy. In summary, here are the 4 reasons:
1. Old Roof
Well it is actually the age AND CONDITION of the roof that matters. I am not surprised by this one. Today in my neighborhood there is a home for sale that was built in 1986 and it still has the original roof! It is listed for $479,000- I doubt it will sell unless the roof is replaced or some provision is made in the sales agreement.
2. Too many claims
I know you are asking yourself why do I buy insurance? Well, frequent claims can cause your current insurer to not renew- or to even increase your costs dramatically. As a NH Home Insurance agency we shop home insurance for our clients all day long. We are so frustrated when we see a client with 2 claims and one is for only $400. (If it's under a $1,500 we suggest that you do not file the claim...you can lose a loss free discount, your rates can increase and if you have a significant claim in the future it may result in cancellation or non-renewal!) Having more than one claim in a short time period can make it difficult to get attractive home insurance rates!
3. Insurer stops offering in your state or area
4. High Risk Pets
Many NH home insurers will NOT write your home insurance if you have a high risk dog (They include Pit Bull, German Shepherd, Akita, Chow, and Akita).
Today dog bites are the most common liability claim on a home insurance policy and cost insurers $700 Million annually. The typical amount paid out for a dog bite claim is $37,051. As a NH Home Insurance agent we have some good news we have a NH home insurance company that will work with home owners who have dog bite history. So please call us if you have need a quote!
Please see the entire article for more info- it is well done!
If you have any questions about your NH Home Insurance or MA Home Insurance policy- or if you want a NH Home Insurance Quote please give us a call at 1-888-882-2909.
Atlantic Insurance & Benefit Company specializes in Nashua, NH Home Insurance and the surrounding community.
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