Have you ever had your homeowners insurance policy cancelled? If so, was it because of a late premium payment? Or was it because the carrier no longer wanted to insure your property?
Cancellations can occur for a variety of reasons. The most common cancelation would be the termination of an insurance contract by a carrier prior to the renewal date. This typically occurs because they don't want to have that risk on there books anymore.
If your policy is getting cancelled, most likely a new insurance company will offer you coverage. Make sure you shop around prior to your renewal and potential cancellation of insurance.