Insurer Cancelled Policy Before Close
Hello,
I just received a call from Liberty Mutual saying that they are cancelling my homeowner's insurance policy. Apparently, someone from the company went to look at the house and determined that the roof has some green mesh in some spots, some tiles are curled up and had some patches.
The policy was started almost a month ago, and honestly, it was the best quote I received. Needless to say, I was pretty happy since I thought LM is a reputable company. However, this really changed my perspective on the company since we are supposed to close on this 3-family next week. Keep in mind, neither the mortgage appraiser, nor the inspector saw anything out of the ordinary with the roof. The inspector did see the green mesh in a few areas, but determined that the roof still has 5-8 years left to it at the least. I offered to make necessary repairs and clean up, but LM said that they wouldn't reinsure me, so I cancelled my auto policy with them as well.
I was definitely blind sided by this and I hope I can find another company in time. Now, I'm a bit worried that with which ever insurance company I'll go with next may also cancel on me. Is this pretty common, or is LM just really tempermental in this regard? Someone recommended to try Homesite through Geico. This is my first home/investment purchase so majority of this is new to me.
Any other recommendations or suggestions would be greatly appreciated.
Konrad