Answer
Jul 31, 2024 - 05:34 PM
Each underwriter can have different cancellation guidelines, which can be found in the policy jacket under cancellations. Most flood policies can only be cancelled for valid cancellation reasons, such as - property sold, - lender no longer requiring flood, duplicate policies, etc. Valid cancellation reasons require supporting documentation before a cancellation request can be submitted to the underwriter. Most flood policies can not be cancelled mid term for a cheaper replacement, instead they can only be non renewed or replaced during the renewal time frame. Contact your insurance agent to learn more about your options.
