What is a moratorium?
A moratorium is a period of time set by the insurer during which a new policy or increase in coverage cannot be issued. During this period of time certain types of insurance, including Specialty Homeowners, cannot take effect. Moratorium are usually established when a catastrophic event is anticipated for an area. For example, areas under threat of a tropical cyclone (i.e., hurricane or tropical storm) or a wild fire are not eligible for coverage during the moratorium period designated by the company. To determine if your area is under a moratorium, call .
A moratorium is a period of time set by the insurer during which a new policy or increase in coverage cannot be issued. During this period of time certain types of insurance, including Specialty Homeowners, cannot take effect. Moratoriums are usually established when a catastrophic event is anticipated for an area. For example, areas under threat of a tropical cyclone (i.e., hurricane or tropical storm) or a wild fire are not eligible for coverage during the moratorium period designated by the company. To determine if your area is under a moratorium, call 1-877-467-6787.
