AboutJay K. Williams, AAI, AIP, CIC, CRM Expertise I can answer questions relating to the following coverages: personal auto; homeowners; commercial auto; commercial liability; commercial property; business income and all other property and casualty coverages.
Experience I have been in the insurance industry in Florida since 1979. I am currently the president of a Florida domestic insurance company subsidiary. I've taught continuing education classes in Florida and across the country. I am quite familiar with all coverages including Florida Condominium master policies and unit owner policies. I also specialize in agent professional liability. I have been a professional educator since 2001.
Organizations I am a member of the Florida Associaion of Insurance Agents, the state affiliate of the Independent Insurance Agents and Brokers of America.
Education/Credentials I currently carry the following professional designations:
Accredited Advisor in Insurance (AAI)
Associate in Insurance Production (AIP)
Certified Insurance Counselor (CIC)
Certified Risk Manager (CRM)
Question My homeowners insurance is to be cancelled on 6/20/09 due to non-payment of premiums by my mortgage co. I am in the process of re-structuring my mortgage through a local metropolitan housing authority chapter. The premiums are paid through escrow and because I got quite behind in my mortgage payments (6 months), obviously the funds dried up to pay the premiums!! The insurance company is demanding $701.00 to get the policy current, or face cancellation. So, my question is: Can I go to another insurance company and get a policy before my current policy lapses? BTW, I live in Ohio.
Answer Hi Alan,
I find it interesting that the current mortgage company is refusing to pay the premium. By letting the insurance cancel, they are not protecting their interest in the property and could be violating Federal lending laws.
Regardless, there is no problem with you finding insurance elsewhere. Nothing prohibits you from moving your insurance from one company to the another, even if the premiums are escrowed.
I hope that helps a little. Let me know if you have additional questions.
