2025 Session Last amended: 1967 session

§ 65A.07 — Cancellation of Fire Policy

Plain-Language Summary

This section allows fire insurance companies to add a clause to their policies that permits cancellation with five days' notice if the insured has not paid the premium within 60 days of the policy's delivery date. The cancellation can happen without refunding any part of the premium and overrides any conflicting language in the policy.

65A.07 CANCELLATION OF FIRE POLICY.

Any fire insurance company which has not collected the premium on its policy at the time of the delivery thereof may print or endorse, or attach by rider, on its policy the following clause:

“If the insured hereunder shall not have actually paid the premium hereon, or any part thereof, within 60 days from the date of this policy, then this policy may be canceled by the insurer by giving five days’ written notice to the insured and to the mortgagee, or other person to whom the policy is made payable, if any, without tendering any part or portion of such premium, anything to the contrary in the policy contract notwithstanding.”

History:

1967 c 395 art 6 s 7

History: History:

  1967 c 395 art 6 s 7

Practical Notes

If you received a fire insurance policy but have not yet paid the premium, the insurer can cancel the policy with only five days’ written notice after 60 days pass without payment. Homeowners and businesses should make sure premiums are paid promptly — not just applied — to avoid unexpected cancellation. The insurer must also notify the mortgagee if the policy is made payable to one.

Source: Minnesota Office of the Revisor of Statutes