How many days must fire insurance policies be in effect before cancellation without probable cause is no longer permitted?

In Illinois, fire insurance policies are designed to provide both the insurer and the insured with certain protections, particularly regarding the cancellation of the policy. Under state law, when a fire insurance policy has been in effect for 60 days or longer, it cannot be canceled without probable cause. This provision is intended to offer stability and security to policyholders, allowing them to rely on their coverage once the policy has passed this duration.

This 60-day period serves as a safeguard for the insured, ensuring that they have a reasonable expectation of their coverage being maintained unless there are valid reasons for cancellation, such as non-payment of premiums or other significant issues related to the policy. Prior to reaching this 60-day mark, insurers retain the right to cancel the policy without needing to establish probable cause, often for reasons related to underwriting standards or changes in risk assessment.

Understanding this specific timeframe is crucial for both insurance agents and policyholders as it delineates the conditions under which a policy can be deemed stable and the protections that accompany such status.