Your home is a major investment, which is why it’s smart to ensure that your homeowners’ insurance policy always stays current, even once you pay off your mortgage. Homeowners insurance provides coverage in many different instances, including theft, fires, and more. What happens if your insurance policy lapses and then a burglary occurs? Bayshield Insurance is here to assist. Here is an overview of what to expect if such an incident happens to you in San Jose, CA.

You Will Be Required to Pay Out of Pocket

If your home is burglarized during an insurance lapse, then the situation will be treated as if you never had insurance. Most insurance companies will not approve a claim on a policy that has lapsed, even at Bayshield Insurance. Therefore, you will be required to pay for any losses out of pocket. This could end up causing a financial crisis, depending on the costs, which is why you must ensure that your homeowners’ insurance policy is always current. 

You Might Pay Higher Rates in the Future

To make matters worse, after paying out of pocket for any losses from the burglary, you can also expect to pay higher rates for homeowners insurance in the future. This is because when your insurance lapses, your insurance company will report this, and all other insurance providers will have access to this information. You will be viewed as a risk, which is why your rates may increase. 

We Are Here To Help

We at Bayshield Insurance pride ourselves on providing top-quality homeowners insurance coverage. If you need a new provider, we cover the San Jose, CA area, in addition to other areas, so give us a call. One of our insurance agents will be happy to assist you by answering any questions you may have and providing you with a quote if needed.