[US] Can insurance companies decide not to renew policies if there’s an imminent risk to property?
For instance, if a large wildfire is approaching and my yearly policy expires when the fire is just 100 feet from my home, can they opt not to renew, leaving me unprotected?
Edit: I appreciate the responses! It turns out that a “notice of nonrenewal” is mandated. For example, in California, they need to provide 60 days’ notice, while in Arizona it’s 30 days.
Yes, insurance companies can choose not to renew policies if they assess that the risk of property damage is too high, especially in situations like an imminent wildfire. However, as you mentioned, they typically must provide a notice of nonrenewal within a specified timeframe, which does vary by state. In California, for example, they generally must give you 60 days notice, while in Arizona it’s 30 days. It’s always a good idea to review your policy and understand your rights, as well as to keep in touch with your insurer about any changes in your property’s risk status. If you have any concerns, consider reaching out to your insurance agent or a legal expert for personalized advice.