What happens if I miss a payment?

January 11 2024 4:22pm • Est. Read Time: 2 MIN

What happens depends on your chosen payment method and if you have a new policy or are renewing an existing policy.


Your payments should be automatically drawn from the card you have on file or paid by your mortgage company.


If for any reason we are unable to collect payment, we will reach out to you and attempt to resolve the issue. If you miss a payment, we will send several additional email notices before your policy begins the cancellation process. Here are more specifics based on your payment method and policy term:



-Mortgage Pay: 


New Policy - 

The due date for a policy’s payment, when billed to a mortgage company, is 30 days after the Effective Date.


If payment is not received 30 days after the effective date, the policy will be put into pending cancellation for nonpayment. You will be notified via email if this happens so you can reach out to your mortgage company and resolve any issues.


If payment is still not received 50 days after the effective date, the policy will be canceled.


Renewal - 

Payment for any renewal is due before the policy’s renewal effective date.


In the event that your mortgage company has not paid by the renewal effective date, they have an additional 90 days after the renewal effective date to submit payment. The policy will remain in an “Expired” status until we receive payment though.



-Out-of-Pocket/Self Pay:


New Policy - 

We will not start a policy that’s opted into self-pay without accepting the first payment installment successfully first. If the first payment is not received before the effective date, the policy will be canceled.


If later payment installments are unsuccessful and we cannot get the issue resolved, your policy will start the process of being canceled after 16 days without payment. Exceptions may be made in some circumstances, please contact us so we can work with you!


Renewal - 

Renewal payments for self-paid policies are processed 16 days before the renewal effective date.


If the payment fails for any reason, we will email you. You will have until the day before the renewal effective date to make a payment and renew your policy.



Card Payment Declined?

If your card payment is declined but you have enough money to cover the payment, try giving your card provider a call. The best number to call will be on the back of your card. Ask them if there are any holds or security flags on your card, this happens fairly frequently for payments over $1000.



Can I reinstate my already canceled policy?

Each case is reviewed individually, so please reach out for details. Submit a Request and we'll get back to you ASAP!


If we can reinstate your policy, a signed Statement of No Loss (SONL) may be required before processing payment and reinstating any policy.

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