GeoVera Insurance Cancelation of policy after 7 years Fairfield, California
We had GeoVera Earthquake Insurance on our Condo for 7 Years, when they recently told us that "They do not cover dwellings of more than 4 units! and had to Cancel the policy or as they put it "Non-Renewal"
Our building has 75 units.When I asked for a full refund as acording to their Policy we were clearly NOT covered, they told us that "if we had made a claim in that time they would have paid us"
I find this hard to believe as Insurance Companies do not pay unless they have to, also I can not believe that they are that incompetent as not to notice this for 7 years!
I am not giving up on this I want my money back!
1 Updates & Rebuttals
Flynrider
Phoeix,Arizona,
U.S.A.
They are correct.
#2Consumer Comment
Mon, November 16, 2009
If you had a paid insurance contract for your building, they would have been obligated to pay claims under that contract. Insurance companies do tend to try and pay out as little as possible, but they can't sell you a policy on a building and then turn around and say they don't cover that type of building.
They certainly have every right to decide not to renew the policy if it no longer fits their risk profiles. Insurance companies do this all the time.
I don't think you'll get anywhere on your assertion that claims on the old policy would have been denied. Since you didn't make a claim, you have no way of proving that. You can try complaining to your state's insurance commisioner, but I don't think you'll get very far.