| Did you know that according to the Indiana | | | | policy is being cancelled for a reason other than non |
| Department of Insurance (IDI), the insurance industry | | | | payment, you'll need the extra time to shop around |
| is one of Indiana's largest employers. That being said, | | | | for replacement coverage. |
| that means there are many insurance options for | | | | If your policy does not cover flood damage, it must |
| homeowners in Indiana. Because the insurance | | | | be stated prominently on the policy jacket or, you |
| industry is so large, there must be tough regulation to | | | | must be given written notice that flood coverage |
| ensure the protection of the consumer. | | | | may be available through the National Flood Insurance |
| Here are some facts Indiana homeowners should be | | | | Program. |
| aware of when securing homeowners insurance: | | | | In certain Indiana counties in southwestern Indiana |
| If your homeowners policy is being cancelled for non | | | | along the Illinois Coal Basin, the insurance company |
| payment of premium, the notice of cancellation must | | | | must inform you of the availability of mine subsidence |
| be in writing and sent to you at least 10 days before | | | | coverage (coverage for homes built over mines that |
| policy cancellation. | | | | may collapse or slowly settle) when they issue the |
| If your insurance company does not want to renew | | | | policy. |
| your policy, IDI requires the notice be sent to you at | | | | IDI also regulates how much an insurance company |
| least 20 days before policy expiration. As a | | | | can charge you for an inadvertent bad check. Their |
| consumer, negotiate with your insurance company to | | | | charge may not exceed $20 (this is in addition to the |
| extend the 20 days to 30 or 60 day notice. If your | | | | charge issued by the banking institution). |