What Happens If My Home Insurance Lapses? 
If your home insurance lapses because of non-payment of premium , you will be notified that all coverage ceases and that the policy is no longer valid . If you have a mortgage , the mortgage company will receive the same information . The mortgage company has the right to order coverage to protect their interests and do so without regard to your desires . Aside from the issue of money , the worst thing is that a claim might occur and you would be bare . There wouldnt be anyone to stand with you in a lawsuit , there wouldnt be anyone to repair your damaged home or replace your personal property . It could be an extremely costly omission . 