Can an insurance company drop your policy without any reason why?
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Can an insurance company drop your policy without any reason why?
This was after many years, having never missed a monthly payment.
Asked on January 13, 2014 under Insurance Law, Wisconsin
Answers:
Brook Miscoski / Hurr Law Office PC
Answered 10 years ago | Contributor
It's difficult to answer your question, because there are many different kinds of insurance.
But the short answer is that insurance companies can drop people, and it might not always make sense to the insured why this is happening.
For instance, a home insurer could determine that it's no longer able to sustain the risk in insuring certain properties. Or a health insurer could determine that a particular plan is no longer economically viable or is actually not a qualifying health care plan. There are plenty of business and regulatory reasons why an insurer might stop offering a policy--whether for your home, care, health, or some other less common type of insurance.
If you want to understand your specific situation, you would probably need to talk with your insurer or an insurance agent. An attorney could help too, but I would imagine that a brick-and-mortar agent would have a good understanding of what had happened and why.
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