Can Insurance be Cancelled by Insurance Company?

[joecon916]

Hello, I am current on all my insurance bills and plan on being so through the entire BK process. Can my insurance company cancel or raise my insurance (car, home, and business) simply because I defaulted on all loans (CC, mortgage, business) and will soon file for Chapter 7 BK?

We are closing down our salon July 1st and will cancel the business insurance and worker's comp (same insurance company as personal policies). Will this raise a red flag with our insurance company and perhaps get out personal policies either cancelled or increased?

We don't plan on filing until September, if that matters.

Thanks!

[walkthaplank]

Your personal insurance shouldn't be canceled. Depending on your state laws, your credit may effect your rates. Some states allow insurers to charge you using your credit report in addition to your claims or driving history.