Who, if anyone, may terminate a household insurance policy?

In the context of household insurance, both the insured and the insurer have the right to terminate the policy under certain circumstances. The insured can choose to cancel their policy for various reasons such as finding a better rate, selling the house, or dissatisfaction with the coverage. On the other hand, the insurer may also terminate the policy if there are valid grounds, such as non-payment of premiums, material misrepresentation, or significant changes in the risk associated with the insured property.

This mutual right to terminate the policy reflects the principles of contract law, where both parties hold certain rights and obligations. Such flexibility helps ensure that both the insured and the insurer can protect their interests and adjust their commitments as necessary.

The other options suggest that termination is exclusive to one party or not permitted at all, which does not align with the principles of insurance contracts and the rights afforded to both the insurer and the insured.