Renewing and cancelling
You can cancel your insurance policy at any time and for any reason.
You’ve found a home insurer who’s offering a lower premium and want to cancel your policy with your current insurer?
To do so, you must send a written notice to your insurance agent or broker. However, you may be charged a penalty. (The longer the remaining policy term, the higher the penalty.)
Your insurer also can decide to cancel your insurance policy if, among other reasons, you have not paid your premium. If this is the case, your insurer must send you a written notice and the cancellation will take effect 15 days after the notice is received. The
insurer will reimburse you a portion of the premium, where applicable, for the non-used portion of the policy.