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Originally Posted by PompeyKing
I have been told that an Insurance Company has 60 days from the date that you get the policy to cancel your coverage with or without any reaseon.
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You were told incorrectly.
They can cancel the policy they issued, with certain restrictions.
They have to give you at least a 30-day notice in most states. Some states require longer. No idea about Florida for notice time.
They can only cancel it for reasons specified by the contract. SOME reasons are as follows:
Quote:
Intentional damage to a covered asset by the insured, policyholder, or interested third-party
Criminal record
Insured poses a "moral risk"
Life changes
Too many missed payments
Too many claims
Significant changes in risk.
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They can't cancel it for "no reason" or even for "any" reason.