If you’re a West Virginia business owner, you must purchase commercial insurance. Our team at Mutual Insurance Partners will listen to you and base our policy suggestions on your company’s unique needs. Companies in the Follansbee, WV area are invited to visit our office to discuss their insurance options. We’ve been working with West Virginia companies like yours since 1960.
What Happens if Your Policy is Cancelled or Non-Renewed?
Once you have bought any commercial insurance policies, it is your responsibility to keep them active. However, some commercial insurance clients may receive a notice which states their policy has been cancelled or non-renewed. According to ABI, if a policy is cancelled, your insurance coverage from that policy will end right away. In contrast, if the notice reports that a policy is not being renewed, it means that coverage from that policy will end at the end of its current policy term.
According to Preventty, a commercial insurance policy can be cancelled due to non-payment of premiums, or violation of any policy conditions. According to ABI a non-renewal may be planned because you have submitted an excessive number of claims. If you receive either of these types of notices, you should contact your insurance agent to see if there is anything you can do, to reverse the agency’s decision. If there is nothing you can do, make it a priority to get a replacement policy as soon as possible.
Give Us a Call for Your Appointment Today
Every company is unique, so your commercial insurance portfolio should also be unique. Our team at Mutual Insurance Partners has the experience to advise you about any of your commercial insurance concerns. Corporate clients near Follansbee, WV have placed their trust in our team for over 65 years. Contact us for your appointment today.
