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.
Wouldn’t that be illegal as it’s a breach of contract? If not… then it makes sense not to get home insurance.
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.
That doesn’t really help anyone with a mortgage. The lenders require insurance until you’re paid off
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That’s true.