What does Notice of Cancellation Clauses mean? Read on to discover the definition & meaning of the term Notice of Cancellation Clauses - to help you better understand the language used in insurance policies.
Notice of Cancellation Clauses
Provisions in policies mandating that insurers are to provide advance notice of cancellation or nonrenewal of a policy. Most commonly, the required cancellation notice period is 30 days, although state amendatory endorsements frequently extend this period to 60 days. Additionally, most policies require that the insurer provide advance notice of nonrenewal with the notice requirement ranging from 10 to 75 days depending on jurisdiction and circumstances surrounding the nonrenewal.
We hope the you have a better understanding of the meaning of Notice of Cancellation Clauses.