Going without home insurance on your Burlington, North Carolina house is not something that you want to do. There are two situations when you can find yourself without home insurance. If you do not pay your premiums or substantially misrepresent facts when buying a policy, your insurance company can cancel your policy. Your home insurance company can also choose not to renew your policy, for any reason, just as long as they give you written notice at least 30 days in advance of your renewal date.
Some homeowners who live in Coastal North Carolina have a very difficult time getting insurance coverage on their home and have to purchase a policy through a special pool of funds managed by the North Carolina Joint Underwriting Association. While this option does not exist in Burlington because it is far from the coast, there are other means to pursue if your previous policy has been canceled.
The first option is to shop around for home insurance coverage with as many different companies as you can find. Not all insurers have the same underwriting requirements and some may be more willing to write a new policy for someone that was canceled in the past. As your independent agent, we can do the work for you and shop around for the coverage you need with multiple home insurance companies.
Another alternative may be to buy two separate policies that can offer you the protection you would get under a standard home policy. You may be able to buy a home insurance policy that covers property damage to your dwelling and then buy a separate policy to protect you against liability claims.
Finally, if your previous home insurance policy has been canceled and you have had no luck finding a state licensed insurance carrier who will write you a policy, there is another option. Surplus line insurers are sometimes able to underwrite policies for people who have had their home insurance canceled because they are not as restricted by North Carolina regulations. Rules about the types of forms and rate filings are relaxed for surplus line insurers so they can charge higher rates and insure people in a higher risk group.