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Why is my current insurance company denying a policy for my new home?
Why would my current insurance company deny a policy on my new home due to a past claim on my existing home? There was a nasty windstorm about two years ago and I had to put in a claim for my roof. It ended up being a complete tear-off and cost about $16,000. Now I am moving into a new home and my current insurance company denied coverage for my new property. I've only had one claim with them.
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Even though your current homeowner’s insurance company made a payment on your most recent claim and has no official reason to cancel your current policy, this does not mean they are required to offer you a new policy.
Insurance companies are driven by statistics. Statistically, when a customer has one claim, they are more likely to file another claim in a short amount of time. A wind and hail claim is not in any way your fault, but a $16,000 claim may be outside of their guidelines to offer you a new policy so soon.
It would be best to speak with your agent in this situation to see exactly why they declined your new policy.
Any time you have life changes, it is a great time to re-evaluate both your
home and auto insurance
policies. By bundling both your auto and home insurance together, you can save on both policies with a multi-line discount. Using a free app like
Jerry
will help make this happen! Jerry collects auto and home quotes from over 50 carriers and brings the lowest available rates right to the app on your phone.” View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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