Is there a policy payment grace period on a homeowners policy?

Typically, an insurance company will provide their policy holders with a payment grace period. These grace periods will vary from one company to the next. The average time a grace period lasts is approximately ten to fifteen days after the payment due date. Some companies, however, may have shorter or longer payment grace periods.

The best way to determine the payment grace period is to read your policy declarations page. This information is usually found on the first couple pages, along with the information on when payments are due. If you can not find this information you may need to call the insurance company's customer service helpline or look online.

If you find that you are not able to make your payment during the grace period be sure to call your insurance company. Many times they will be able to expand the grace period for a few extra days. If you do not make your payments in time, the insurance company will most likely back date the end of your insurance to the first day of the grace period. This is because technically your payment is late if you enter this period.