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Home Insurance Question from Safety Harbor, Florida
Answer given on May 21, 2019
If your insurance company has paid you to make repairs to your home and you have not done so for 5 years, I am surprised the insurance company has allowed this to go on for so long. Since they granted extensions, you are not in default. However, if you do not intend to make the repairs now, you will have to speak with the insurance company. They will most likely want you to make the repairs if they are going to continue to insure the home. If you do not, they can demand a refund of the money they paid you to make the repairs and can decide to non renew your insurance policy since the repairs will affect the insurability of the home going forward.
if they non renew the insurance, you will have a major problem getting replacement insurance since the repairs were never made, let alone that your insurance was cancelled. I strongly recommend that you proceed with the repairs as soon as possible. Anyone who may get ownership of the home if something happens to you will have to face the problem of the unrepaired damage with no resources to fix it.
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