Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please see below the statements how to cancel a Homeowners 3 policy. All of these statements are true EXCEPT A. At least 100 days' notice

Please see below the statements how to cancel a Homeowners 3 policy.

All of these statements are true EXCEPT

A. At least 100 days' notice of cancellation must be given if an insurer cancels a policy for nonpayment of premium.

B. A policy written for longer than 1 year can be cancelled for any reason on the anniversary date by giving the insured at least 30 days' notice of cancellation.

C. The insurer may cancel a new policy for any reason if it has been in force for less than 60 days and is not a renewal policy.

D. All statements are correct ones

E. After a policy has been in force for at least 60 days, it can be cancelled by the insurer if the risk has increased substantially since the policy was issued.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jack Kapoor

12th Edition

125996776X, 9781259967764

More Books

Students also viewed these Finance questions

Question

Imagine you remain in the job listed under point

Answered: 1 week ago

Question

3. Im trying to point out what we need to do to make this happen

Answered: 1 week ago

Question

1. I try to create an image of the message

Answered: 1 week ago