Call Us 866-950-6844 (MVIG) ☰ ˟
Meet the Team Manage My Policy
Logo
866-950-6844 (MVIG)
  • Home
  • Products
    • AnnuitiesImage of right arrow
      • Annuity Quote Form
    • AutomobileImage of right arrow
      • Auto GAP Insurance Quote
      • Auto Insurance Quote
      • Mexico Travel Insurance Quote
    • BondsImage of right arrow
      • Bond Request Form
    • Business & CommercialImage of right arrow
      • Builders Risk
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • DentalImage of right arrow
      • Dental Insurance Quote
    • FloodImage of right arrow
      • Flood Quote Form
    • HealthImage of right arrow
      • Disability Insurance Quote
      • Health Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowner Flood Quote Form
      • Homeowners Insurance Quote
      • Manufactured Home Quote
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • MotorcycleImage of right arrow
      • Motorcycle Insurance Quote
    • Recreational VehicleImage of right arrow
      • Recreational Vehicle Insurance Quote
    • RentersImage of right arrow
      • Renters Insurance Quote
    • Toy VehiclesImage of right arrow
      • Toy Vehicle Insurance Quote
    • VisionImage of right arrow
      • Vision Insurance Quote
    • Watercraft & BoatImage of right arrow
      • Watercraft Insurance Quote
    • WindstormImage of right arrow
      • Wind Quote Form
  • Customer Service
    • Auto Insurance Customer Service FormsImage of right arrow
      • Add Driver to Existing Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & Commercial Insurance Customer Service FormsImage of right arrow
      • Add Driver to Existing Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
      • Request ID Card for Commercial Auto Policy
    • Dental Insurance Customer Service FormsImage of right arrow
      • Request Declaration and Coverages Page for Existing Dental Insurance Coverage
    • Flood Insurance Customer Service FormsImage of right arrow
      • Request Declaration and Coverages Page for Existing Flood Insurance Coverage
    • Homeowners Insurance Customer Service FormsImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • Motorcycle Insurance Customer Service FormsImage of right arrow
      • Add Driver to Existing Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Driver from Existing Motorcycle Policy
      • Remove Motorcycle from Existing Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Recreational Vehicle Insurance Customer Service FormsImage of right arrow
      • Add Driver to Existing Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Driver from Existing Recreational Vehicle Policy
      • Remove Recreational Vehicle from Existing Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Request ID Card for Recreational Vehicle Policy
    • Renters Insurance Customer Service FormsImage of right arrow
      • Request Declaration and Coverages Page for Existing Renters Insurance Coverage
    • Watercraft & Boat Insurance Customer Service FormsImage of right arrow
      • Add Watercraft to Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
      • Remove Watercraft from Existing Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Request ID Card for Watercraft Policy
    • Windstorm Insurance Customer Service FormsImage of right arrow
      • Request Declaration and Coverages Page for Existing Wind Insurance Coverage
  • Resources
    • Refer a Friend
    • Important Links
  • About Us
    • Location Map
    • Employee Directory
    • Privacy Policy
Auto Icon Home Icon Business Icon Life Icon Health Icon Boat Icon
Home > Blog > Can You Cancel Your Home Insurance Policy with an Open Claim?
WEDNESDAY, APRIL 26, 2023

Can You Cancel Your Home Insurance Policy with an Open Claim?

In some cases, you may not want to remain with your current home insurance provider after a claim. You may even be tempted to cancel your policy while a claim is still open. While it is possible to do so, there are certain things you should keep in mind. 
Homeowners Insurance
Switching Insurance During or After a Claim Can Raise Your Rates 

If the goal in switching your home insurance policy is to save money, this may not be the best decision to make after or during an open claim. The more claims you have on your record, the more you may pay for home insurance. If you remain with your insurer, they may work with you to save money on your rates. However, there is no harm in comparing quotes and keeping an eye on home insurance prices. 

Switching Will Not Affect the Open Claim 

Say you have an open claim and decide to switch insurance providers while the claim is still open. Your new insurance provider will not be handling your open claim. Instead, the insurance provider with which you opened the claim will finish handling it. Afterwards, all claims can go through your new insurer. So if you are unhappy with the compensation you have been offered through your current insurance provider, switching providers will not have any effect on your compensation. 

You Can Change Insurance Providers at Any Time 

There are no set dates or time during which you must switch your home insurance provider. You can do it at any time, even if you have an open claim. It also helps to compare quotes between insurers, especially at the beginning of the new year. Premiums are liable to change year to year as well as during the year due to different circumstances, such as if you move or make upgrades to the home. 

Not All Insurers Offer the Same Coverage 

Not all insurance providers offer equal coverage. You may switch insurers only to discover that your new insurance provider does not offer the additional coverage your used to, or you may switch to find that you can receive higher coverage limits than with your previous insurer. It is crucial to do your research and ask explicitly about the coverage options available to you. Many homeowners end up paying too much for home insurance that doesn’t cover all of their needs. 
Posted 7:45 PM

Tags: homeowners insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • business insurance(4)
  • auto insurance(4)
  • health insurance(3)
  • rv insurance(3)
  • home insurance(2)
  • life insurance(2)
  • life(1)
  • whole(1)
  • business owner's policy(1)
  • home insurance and dog breeds(1)
  • policy(1)
  • retirement(1)
  • renters insurance(1)
  • homeowners insurance(1)
  • insurance(1)
  • terms(1)
  • dental insurance(1)

View Mobile Version
Facebook
Twitter
Instagram
Google+
Contact Us Today
Speak to an Agent
Resources
Products
Customer Service
Payment Options
Report a Claim
Refer A Friend
Our Carriers
Blog
Contact Us
Contact us
1000 SW 86 Ct
Miami, FL 331440
info@maxvalueins.com
Mailing Address
P.O. Box 442726
Miami, FL 33144
© Copyright. All rights reserved. Powered by Insurance Website Builder.