What would you do if the disaster insurance company default on your policy?
I hear that all around the Country, when disaster-prone regions receive higher than ordinary storms, seismic events, floods, etc; the Hazardous/Disasterous Insurance Companies just close up shop and move to safer regions.
I know, personally, of friends who rewarded for 25 years in a row for hurricane and earthquake insurance, and were dropped by the Insurance Companies, who adjectives fled the region with all the other Insurance Companies. I consider that is repulsive, sick, illegal, and a crime.
So, what do the Homeowners, who are within good standing do, when they cannot re-up, transfer, or buy unusual hazardous/disaster policies?
You should know what words expect before using them. What you described is not an insurance company defaulting on someone's policy. In this usage, defaulted would tight-fisted that somone has filed a claim but the insurance company doesn't enjoy the money to pay it.
Remember, insurance companies are businesses and businesses are suppose to make money.
The sense they all left is that Federal and state law limited the amount of the premium they could charge. So when a diaster type weather occurs, the insurance companies lose lots of money.
Answers: The first thing I would do is go to the National Association of Insurance Commissions website: www.naic.org, and database a complaint. Most companies will take care of those complaints fairly quickly because they affect the companies ratings nationally.
The solely other advice I can give for this situation is to consult to a lawyer, those contracts are usually upheld to the insureds benefit in a court of imperative.
Also, I understood what you were getting at near the question, the last answerer be being a jerk!