My Homeowners Insurance Was Just Canceled. Here's Why, and What I Plan to Do About It

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• After three years with the same insurer, I received a notice that my policy won't be renewed when it expires.
• Homeowners insurance policies can be non-renewed for a variety of reasons, including a credit score decline, change in property use, and more.
• A non-renewal isn't a reason to panic, and you can shop around to potentially save money while finding a new insurance company.

I own a second home/investment property in the Orlando, Florida area. And as is the case with many investment properties, there have been several curveballs thrown my way in the three years since I bought it. For the latest curveball, I received a notice a few months ago from my homeowners insurance company that my policy will not be renewed upon its expiration in May.

Fortunately, as a financial planner, I have experience with helping people navigate situations like this. Here's why my policy isn't being renewed this year, what I'm doing about it, and how this actually turned out to be a blessing in disguise.