I have found that my home insurance has lapsed, how would I go about getting insurance now?

Question

aparently when I redid my loan with my mortgage company last year, due to the type of loan or whatever, home insurance was no longer part of the monthly premium as I thought it was. now I have found that the home insurance lapsed as of 12/05/05. i need to find a insurance company that will work with me on getting insured again.

Answer 1

Actually most insurance companies ask if you are purchasing the house now or if you have owned it and if you have owned the property then they will want to know who currently provides coverage on the property. Its not a good idea to lie about this. If the mortgage company issued coverage you may be able to use that as your current coverage. Try here for a list of local agents: http://www.insuremyhouse.com Most agencies can write a non-preferred policy for a year to re-establish prior insurance and then convert you to a preferred policy.

Answer 2

As others have said, contact an independent insurance agent immediately. It's imperative that you get immediate coverage on your house. However, unlike what others said, it might not be easy. Many insurance companies will not be willing to write a new applicant that has had a lapse in coverage. It's a pretty standard guideline among many insurance carriers that risks that have a lapse in coverage are a prohibited class that they don't write.

That's why I recommend contacting a local independent agent and not an agent that represents just one company, like AllState or State Farm. An independent agent represents many different companies and should be able to find one that can accept a risk with a lapse in coverage.

Also, when you refinanced, I'm assuming you had an escrow account through your mortgage holder and now your new mortgage holder doesn't do this. Make sure this is correct so your future bills will be going to the right place.

Answer 3

I think there should not be any problem in getting a insurance from any of the insurance companies. To name a few, Cholamandalam General Insurance, New India Assurance, Oriental Insurance, National Insurance.
Since ur insurance has lapsed so ur case is a Break in Insurance case, which will call for some inspection from the Insurer's side and u will be done with that.

Answer 4

Since your loan company seemed to have dropped the reins, go to a good dependable insurance company like(Allstate, State Farm, Farmers, etc.) and get some quotes. Most companies have monthly payments now so look into it.

Answer 5

As long as your home is in good shape and you don't have previous losses you will be able to find a company that will insurance you. Do it soon because your mortgage company has placed a dwelling fire policy on the property to protect their interest, and you are paying for it.

Answer 6

Like the first answerer said - any company will write a policy for you. You WILL NOT have to pay more. Some companies reward you with discounts for having a policy continuously with them for a certain number of years but I know of none that penalize you for not having coverage for the past 6 months. The only problem you may encounter is with your lender who may try to charge you for "their" plan for that lapse in coverage.

Answer 7

Contact an independant insurance agent. You can find them in your local yellow pages. They should be able to help you. You might have to pay a higher premium for a while, but they should be able to hook you up with a policy.

Answer 8

Any of them will--that is how they make money. Just go to a local agent. It isn't like cars where it is against the law not to have it.

Answer 9

call nation wide