Home Insurance Forum

For a number of years my mortgage company carried my homeowners policy. Now that I have paid off the mortgage, I do not have insurance. I have been told by every company I have tried that, because my policy lapsed, it will be hard for me to obtain new insurance. I do not understand the reason for this. I was not given the option of keeping the policy that the mortgage company held.

Bessie, Virginia

Dear Bessie,

Kenneth Schrad, a spokesperson for the Virginia Bureau of Insurance, says you should give the bureau a call right away. "There are a couple of things that need exploring here," he says.

"First, we'd like to dig into why the policy, as she put it, 'lapsed,'" says Schrad. "Related to this is the problem she's having getting new coverage. Unless she was terminated for not paying premiums or has filed multiple claims, she shouldn't have a problem getting coverage.

"Second, we'd like to see if agents are telling her something that is different from the truth for some reason."

You'll find the bureau's address, phone number, and a link to its Web site by visiting our main Virginia page.

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