How many days' notice is required for cancellation due to nonpayment of premium within the first 60 days?

In the context of property and casualty insurance in Illinois, if an insurance company needs to cancel a policy within the first 60 days due to nonpayment of the premium, it is mandated to provide a 10-day notice to the insured. This requirement is designed to ensure that policyholders are adequately informed about the cancellation and have a fair opportunity to address any payment issues.

This 10-day notice period is particularly important because it provides the insured with a brief timeframe to take corrective action, such as making a premium payment, thus potentially avoiding a lapse in coverage. Understanding this policy helps insured individuals be aware of their responsibilities and the consequences of missed payments during the crucial early days of their policy.