Feb. 18, 2007

I never signed my homeowners policy. Is this necessary for valid coverage?

Lisa, Illinois

Dear Lisa,

According to the Insurance Information Institute, you do not need to have your policy signed for it to be in effect. If you have made a payment, then it is considered to be a binding contract.

If you haven't made a payment, then you have a problem. Rules on default differ from state to state, but most give you 30 days to pay before your policy is revoked.

In any case, you should ask to see your policy, sign it, and keep a copy for your records. You should also read through your policy carefully. There may be things you'd like to change, or items you don't understand. Your insurance agent should be able to help you with that.

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