Under a new state law, residents will no longer be protected from homeowners’ policy cancellations, higher deductibles or big rate increases.
  • StaySquared@lemmy.world
    12·
    4 months ago

    Wouldn’t that be illegal as it’s a breach of contract? If not… then it makes sense not to get home insurance.

    • ramble81@lemm.ee
      2·
      4 months ago

      The companies just opt to not renew it. That is legal as it would be illegal to force someone into a perpetual agreement. Then you’re SOL when your lender requires insurance (to insure what is technically their property) and there’s none of be found.

    • Cort@lemmy.world
      2·
      4 months ago

      That doesn’t really help anyone with a mortgage. The lenders require insurance until you’re paid off