The purpose of this letter is to inform him that he may end up losing all coverage provided by his insurance policy in case of further delays in the payment. In this way, the company provides another chance to the policyholder to clear the dues.How much notice must be given on the policy anniversary date?
At least thirty (30) days’ advance notice in writing of the premium to be charged on the policy anniversary date must be given to the insured and the agent of record if the insured has furnished the information necessary to calculate the premium;When to give notice of nonrenewal of property insurance policy?
Notice required prior to expiration of property insurance policy: Except for nonpayment of premium, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days prior to the expiration of the policy’s existing term.When does an insurer have to send a notice under 27-608?
27-608: Unless an insurer has given notice of its intention not to renew a policy subject to this section, if the insurer seeks to increase the renewal policy premium, the insurer shall send a notice to the named insured and insurance producer, if any, not less than 45 days prior to the renewal date of the policy.