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