Renewal packets are typically sent out 60 days before the policy's renewal effective date. The policy packet will be sent to the email address on the policy's Payment and Bind tab for policyholders who prefer electronic document delivery. Those who have not selected electronic document delivery will receive their policy packet via mail.
Openly manages renewal payments via the policyholder's chosen payment method.
The payment process varies based on the selected payment method, as detailed below:
- An invoice will be mailed to the mortgagee 60 days before the renewal effective date for mortgage escrow payments. However, this timeline may vary according to state requirements. For example, the invoice is sent out 75 days in advance in Kentucky.
- If payment is made by EFT or credit card, the account will be automatically charged on the policy's renewal effective date, provided a payment authorization form has been received. A reminder will be sent to the policyholder ten days before the payment transaction, with the agent copied for reference.
- In cases where EFT or credit card payment is selected but no payment authorization form is received, the policyholder will receive a direct bill notice either electronically or by mail, depending on their document delivery preference. The payment will be due on the policy's renewal effective date.
- If the selected payment method is Direct Bill, the policyholder will receive a direct bill notice electronically or by mail, depending on their preference. The payment will be due on the policy's renewal effective date.
For further assistance, contact us via our webform or Live Chat.