When renewing vacant home insurance or vacant condo insurance, make sure you inform the mortgage company!

Clients than have purchased vacant home insurance should not wait until the "last minute" to renew the vacant homeowners insurance policy. The reasons have to do with the demands of the mortgage company.

In most cases, vacant home insurance can be renewed just a few days before the lapse date or termination date but we don't recommend this. Although there may be no lapse in coverage it can take a week or two for the client to receive the documentation paperwork like the declarations page for vacant home insurance.

If the client has a mortgage, it is up to the client to always be able to demonstrate to the mortgage company that good insurance exists on the property, vacant homeowners insurance or otherwise. It's within the right of the mortgage company to secure forced placement insurance coverage if they believe the client has been delinquent in their duty to always protect the house with good insurance coverage.

Vacant Home Insurance Renewals

Clients that purchase vacant homeowners insurance through XN Financial Services, Inc. using a Lloyd's of London policy are reminded that it is the responsibility of the homeowner to contact XN Financial if they need a renewal. Although processes and procedures have been put in place where longer term clients are contacted via email about expiring vacant homeowners insurance policies and what needs to be done to obtain a renewal, vacant home insurance is typically used on a "one time special circumstance" situation and is not regular homeowners insurance where a renewal is expected year after year.

Because clients that purchase 6 month, or one year policies most often DO NOT renew, it is the responsibility of the policyholder to reach out to XN Financial at www.xn.com, service@xn.com and by calling 514-908-1835 if they need a renewal.

Most policies that are allowed to expire cannot be backdated and no coverage for vacant home insurance will exist after the expiration date on the declarations page. Claims will not be honored on any vacant house after the expiration date. XN Financial is not responsible if there are claims on homes after the expiration date.