What happens if my policy is canceled due to nonpayment?

If your policy is canceled for nonpayment, you may face higher premiums when reinstating coverage or switching providers.

Contact your insurer immediately to see if reinstatement is possible — some companies allow you to pay overdue amounts within a grace period. If reinstatement isn't an option, act quickly to secure new coverage to avoid a lapse, which could affect your mortgage lender's requirements or leave your property unprotected.