“Non-renewal” in insurance means the insurance company chooses not to continue your insurance policy when it ends. Insurance policies usually last for a set time, like six months or a year. When that time is up, the company decides if they want to give you another policy.
There are a few reasons they might say no, and if you have received a non renewal reach out to me and I or one of my team members will kindly review it for you and let you know your options
- You’re Risky: If you’ve had lots of claims or accidents, they might not want to insure you again.
- New Rules: Sometimes, the insurance company changes their rules. If your policy doesn’t fit their new rules, they might not renew it.
- Tough Times: If things are going bad for the insurance company, like they’re paying out a lot of money, they might not renew some policies to reduce their risks.
- Not Paying: If you often don’t pay your insurance bills, they might not want to renew your policy.
- Lying or Cheating: If you gave false information when you got the policy or cheated somehow, they might refuse to renew.
- Product No More: Sometimes, they stop offering a type of insurance. If you have that type, they won’t renew it.
If they decide not to renew, they have to tell you ahead of time, as required by the law. You’ll need to find a new insurance company before your old policy ends to stay covered.
