Difference Between Canceled Insurance Policy & Policy Non-Renewal

Have you ever gotten notification that your insurance policy was not up for renewal? There is a difference between an insurance policy being a canceled and one that won’t be renewed. A policy that has been canceled means that your coverage will end immediately regardless if the term is up or not. A policy non-renewal means that you will be able to complete your term under your current insurance, but will need to find a new company once it’s over. This may happen when too many claims have been filed. It’s always good to know the differences between the two.