Vacant Home Insurance Renewal Policies

As a notice to existing customers, if you have a vacant home insurance policy in effect at this time, you can renew vacant homeowners coverage by working with XN Financial directly at www.xn.com or 514-908-1835.

XN Financial Services, Inc. of Montreal and Boca Raton Florida can work with insureds directly at the end of their term of insurance for vacant home insurance or vacant condo insurance to offer another insurance term of 90 days, six months, or one year.

Renewal rates for most customers have not increased more than 5% in the last two years. Some clients have not had rates increased at all. Most clients that wish a new renewal period for any vacant home insurance policy simply need to call XN Financial. In most cases, the entire renewal can be done over the phone with no new paperwork.

Vacant Home Insurance Non Renewal Notice; Beware

Clients of vacant home insurance now often learn that vacant homeowners insurance is necessary after they report they have moved to the existing insurance company at renewal time. In order to renew the policy they may "call in" or mail their new address to the existing insurance company. As we have discussed, 95% of clients are then "blindsided" by their insurer when they learn that their existing policy cannot provide vacant home insurance.

Here is where things get interesting. Clients will receive a notice of non-renewal in the mail from their existing homeowners insurance company. The question I ask clients is, even though they will not be renewed, will the existing homeowners insurance policy honor a claim on the vacant home until the renewal date? One should not assume yes.

Something worth noting regarding vacant homeowners insurance; just because you are not being renewed does not necessarily mean the existing company will honor claims on the vacant home. Those in this situation should make sure they get it in writing that all claims will be paid normally on the vacant home until the date of the renewal, or in this case the non-renewal or cancellation date.

Clients that don't get a straight answer are advised to secure vacant home insurance sooner rather than later or they may be taking big risks.