Did you understand that according to the Indiana Department of Insurance (IDI), the insurance coverage market is among Indiana’s biggest companies. That being stated, that implies there are numerous insurance coverage alternatives for property owners in Indiana. There should be difficult policy to make sure the defense of the customer since the insurance coverage market is so big.
Here are some realities Indiana house owners need to understand when protecting house owners insurance coverage:
The notification of cancellation need to be in composing and sent out to you at least 10 days before policy cancellation if your house owners policy is being cancelled for non payment of premium.
IDI needs the notification be sent out to you at least 20 days before policy expiration if your insurance coverage business does not desire to restore your policy. As a customer, work out with your insurer to extend the 20 days to 30 or 60 day notification. You’ll require the additional time to go shopping around for replacement protection if your policy is being cancelled for a factor other than non payment.
If your policy does not cover flood damage, it needs to be mentioned plainly on the policy coat or, you need to be provided composed notification that flood protection might be offered through the National Flood Insurance Program.
In particular Indiana counties in southwestern Indiana along the Illinois Coal Basin, the insurance provider need to notify you of the schedule of mine subsidence protection (protection for homes developed over mines that might collapse or gradually settle) when they release the policy.
IDI likewise manages just how much an insurance provider can charge you for an unintentional bad check. Their charge might not go beyond $20 (this remains in addition to the charge provided by the banking organization).
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Did you understand that according to the Indiana Department of Insurance (IDI), the insurance coverage market is one of Indiana’s biggest companies. That being stated, that indicates there are numerous insurance coverage choices for property owners in Indiana. If your insurance coverage business does not desire to restore your policy, IDI needs the notification be sent out to you at least 20 days before policy expiration.