Under the present law in New York State, an insurance company may cancel your homeowners or tenants policy by issuing a cancellation notice during the first 60 days it is in effect as long as the cancellation notice states the specific reason or reasons for the cancellation.

After your policy has been in effect for 60 days it may not be cancelled or nonrenewed for a three year period, except for the following reasons:

1. nonpayment of premium (however, if payment is received by the company within 15 days of the mailing of the cancellation notice the policy will not be cancelled)
2. conviction of a crime arising out of acts increasing the hazard insured against;
3. discovery of fraud or material misrepresentation in obtaining the policy or in the presentation of a claim under the policy;
4. discovery of willful or reckless acts of omissions increasing the hazard insured against;
5. physical changes in the property insured occurring after issuance or last annual anniversary date of the policy which result in the property becoming uninsurable in accordance with the insurance company's objective, uniformly applied underwriting standards in effect at the time the policy was issued or last voluntarily renewed; or
6. a determination by the Superintendent of Insurance that the continuation of the policy would violate or would place the insurer in violation of the Insurance Law.

At the end of this three year period, your company may refuse to renew your policy, however, by law, they are required to provide at least 45 days, but not more than 60 days notice of nonrenewal.