Okay, so you’re in a bit of a pickle. You just found out that your car insurance company…is no longer going to be your car insurance company. Maybe you’ve been nonrenewed or maybe you’ve been canceled. Either way, the bottom line is that you soon will be without insurance. But are nonrenewal and cancelation the same thing? Not exactly. We’ll explain why these two pickles are different and how you can react to each.
When it comes to your business insurance, it’s important to have the right coverages. But what does it mean if your policy is nonrenewed or canceled? They might sound the same, and it might seem like they have the same outcome – you don’t have business insurance – but they’re actually two different things and happen for different reasons.
So, let’s take a look at what these two scenarios mean for your business.