Common use of Cancellation, Nonrenewal Clause in Contracts

Cancellation, Nonrenewal. a. You may cancel this policy at any time by returning it to us or by notifying us in writing of the date cancellation is to take effect. b. If this policy has been in effect for sixty (60) days or less and is not a renewal of a policy we previously issued, we may cancel this policy for: (1) non-payment of premium by giving you fifteen (15) days written notice; or any other reason by giving you sixty (60) days written notice. c. If this policy has been in effect for more than sixty (60) days or is a renewal of a policy we previously issued, we may cancel this policy for: (1) non-payment of premium by giving you fifteen (15) days written notice; or (2) any of the following reasons by giving (a) Discovery of fraud or material misrepresentation by: (i) You or your representative in obtaining this policy; or (ii) You or your representative in pursuing a claim under this policy. (b) A judgment by a court or an administrative tribunal that you have violated a Federal law or a law of the state in which the residence premises is located. The judgment must have as one of its necessary elements an act which materially increases any of the risks insured against. (c) Discovery of willful or grossly negligent acts or omissions, or of any violations of state laws or regulations setting safety standards, by you or your representative, which materially increase any of the risks insured against. (d) A determination by the Com- missioner of Insurance that the: (i) Loss of, or changes in, our reinsurance covering all or part of the risk would threaten our financial integrity or solvency; or (ii) Continuation of the insurance coverage would place us in violation of the laws of the state in which this policy was issued or where we are domiciled or would threaten our solvency. Any pro-rata premium due you will be refunded within a reasonable time after the cancellation takes effect. d. We may elect not to renew this policy for any reason by giving you at least sixty (60) days written notice to be effective at the next anniversary or expiration date of this policy whichever is first. (1) If the transfer or renewal of a policy, without any changes in terms, conditions, or rates, is between us and a member of our insurance group. (2) If the policy has been extended for ninety (90) days or less, if notice of our intent not to renew the policy has been given prior to the expiration of the policy. (3) If you have obtained replacement coverage, or if you have agreed, in writing, within sixty (60) days of the termination of the policy, to obtain that coverage. (4) If the policy is for a period of no more than sixty (60) days and you are notified at the time of issuance that it will not be renewed. (5) If you request a change in terms, conditions, or risk covered by the policy within sixty (60) days of the end of the policy period. (6) If we have made a written offer to you at least sixty (60) days before the policy expiration to renew the policy under changed terms or conditions or at an increased premium rate, when the increase exceeds 25%. e. When the landlord requires evidence of personal liability insurance coverage to satisfy the financial responsibility requirements of a lease or rental agreement, we will also mail a copy of any notice of cancellation or nonrenewal to the landlord where evidence of coverage under this policy has been provided by us to comply with the insured’s lease requirement.