My Homeowner Ins. was cancelled

[berch]

What is the name of your state? What is the name of your state? Washington.

I bought my homeowner Ins. through one insurance company in CA., which was referal from Geico. I bought it in Nov. 25, 2002 for covered from Dec. 28, 2002 throgh Dec 28, 2003 and the premium was paid in full. Until last week, I received a "Notice of Cancellation" from the insurance company said "Reason for cancellation is Loss history at risk address: 01/01/01 water loss."

I called the insurance company and asked them what does it mean? and explain that I bought this house and moved in 12/28/01. The staff couldn't tell me what exactlly "water loss" was meant. The only thing he could suggest me was to contact the Consumer Report Center and request a copy of the report.
Which was I did. Then I also checked the Seller's disclosure that was given to me when I bought my house but I haven't seen anything that diclosed about the water circumstances.

I just want to check with whoever is kind out there to give me some advises that "what I should do?". The insurance policy will be cancelled on 04/18/03 and the meantime I am doing Refinance on my house and the loan will be close the end of this month. I am afraid that this will be a problem to my refi.

Thank you,
berch

 

[ALawyer]

Many homeowners compsnies are looking to drop coverage.

If you had a lawyer or broker who assisted you at the closing immediately notify them and ask their assistance as there may have been a MATERIAL NON-DISCLOSURE by the seller or seller's broker.

If you never filed a homeowner's claim in the (relatively recent, at least) past, that would eliminate one possible basis for the cancellation.

Contact an independent property-casualty agent also -- it may cost a bit more than a policy thru GEICO, but at this point you need coverage and cost has to be secondary. Also, try to get someone higher up in the curent insurer to take a look. If you NEVER filed any claim, tell them that too.

 

[tammy8]

A lot of companies are not covering any new property with prior water loses due to the risk of having mold claims in the future.

As Alawyer said, an independent agent will probably be able to offer you SOME company that will cover a residence with a prior insurance water lose.

Good luck.

 

[aw1966]

My insurance company has increased my deductible, because of a water leak. The deductible was 250, it is now 1000. I believe these insurance companies are a rip off. You pay all this money
and they cancel your policy. Good Luck!