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Many homeowners do not realize that standard home insurance policies often have a vacancy clause. If the home is empty and unoccupied for 30 days or longer (depending on the state), an insurance ...
Cancellation of an insurance policy before the end of the policy period has the effect of ending the insurance coverage on the date of the cancellation. This can result in a partial return premium which can be calculated in different ways depending on the method specified in the policy.
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.
Knowing how to cancel an insurance policy is important for several reasons. You may, for example, need to change to a new insurer if you move to a new state. Or perhaps you are taking an extended ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
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