Applying For A Different Policy When Another Policy Is In Force

You may have a situation where the Plan is insuring a property under one type of policy, say a Dwelling Property policy, and the property has now become eligible for another type of policy, say a Homeowner policy. The Plan cannot have two policies in force insuring the same property for the same customers.

You should submit in the same envelope:

• A cancellation request for the existing policy with the cancellation date: "the date the new policy becomes effective".
  • We will cancel the existing policy and return the unused premium to the customer.
• A new submission, with deposit and documentation of rejection, for the new policy.
  • We will issue the new policy. If policy issuance is delayed, we will not cancel the existing policy. The producer and customer are notified by mail.
• We cannot use the return premium of the existing policy as the deposit on the new policy. These are two different transactions.