This article is a friendly reminder to update your homeowner’s insurance policy on an annual basis with your insurance agent.

As an insurance agent, I have seen insurance cancelling because the information on the policy is incorrect. Mortgages are bought and sold everyday, especially with all the turmoil in the financial world today. Banks may change the location of their insurance center, change loan numbers and the insurance company has no way of knowing. Invoices are sent to the mortgage company generally 45 days ahead of renewal, if it goes to the wrong address or has the incorrect loan number, the invoice gets lost in the shuffle and the insurance policy does not get paid. Before you know it, you have cancellation notice and the mortgage company is going to write a policy on your house, which does not cover you in anyway, only their interest, the house.

Take a look at your policy or call your agent when the mortgage information changes to keep your insurance in force.