Can I ever get home insurance again if a previous one has been cancelled?

About 1 yr ago I cancelled my DD for my home insurance to cut costs. My bank then said as I never told them directly they have refused my insurance policy and that I would find it difficult to get another policy. I am now looking to start another home insurance policy but they all ask the question if I have been refused before? What does this mean? As it is obviously important to have it as you never know what will happen.

Shouldn't be a problem; if your claims history is clean and credit decent, you should be able to find a company that will start a policy for you. You haven't really been refused, you were cancelled for non-payment.

Don't know what the deal is with your bank, you'd think they'd be happy to add an insurer and happier still to escrow the payment.

I am sure if you told new insurance company why it was cancelled then they would disregard why it was refused.....Refusal because of building defects or bad security is what insurance companies are looking out for not for petty spite reasons put forward by a bank..

How does cancelling direct deposit cut costs? You still have to pay the insurance premium. Does this mean they cancelled you for non-payment? Any mortagage lender requires home owners insurance. It is mandatory, not optional, if you don't pay it they will assign an insurance provider for you at a significantly higher rate and add it to your mortgage payments. Something in your story does not add up.

Getting homeowners insurance if you have had a policy cancelled, although difficult, is not impossible to get. Be honest with the agent when you speak with them and they should try to help you out.

Good luck!

No, you'll still be able to get a policy.

A few extra steps will need to be taken, but it shouldn't be an issue. The Insurance company will need to send a Rep to take photos of the home and any unrepaired damage will need to be fixed before the policy is issued, or they might just exclude that damage.

Did you have a mortgage this past year? If you did, the bank might have Force Placed an Insurance policy on your home and been charging you through the Escrow Company.