Product: Mortgage

On XX/XX/year> I reached out to my homeowners insurance company XXXX regarding a refund check for my homeowners premium. When i spoke with my agent with XXXX I was advised the refund check was for my premium on my homeowners due to my policy being canceled. My police was canceled due to the premium not being paid on time by M & T Bank. The payment was received but it was received the expiration date of the renewal. XXXX explained to me that they will not be reinstating policy due to risk and an over 30 day lapse in cover. After my call with the insurance company I reached out to M & T Bank trying to find out what happened. I spoke with XXXX XXXX in the insurance department and she was unaware that my homeowners insurance had been canceled. XXXX explained to me that the payment was sent out from my escrow account in XXXX and that my coverage shouldn't been canceled. I explain to her that per the insurance company the payment was not received on time it was received after the expiration date of XX/XX/year>. After further investigation by XXXX she saw that the payment was sent out in the form of a bulk check around XX/XX/XXXX and it should have been overnighted instead. XXXX apologized for the inconvenience and told me I would now have to get forced place insurance from M & T Bank or try and find another insurance company that was will to insure me. I explain to XXXX that's not fair to me because getting forced place is going to cause an increase in the premium and trying to find a good insurance company to insure me is going to be difficult do to the now over 60 day lapses in coverage. I ask to speak with a supervisor to see if there was something M & T Bank could do to help resolve this issue since they are the main reason why my insurance got canceled. I was then transferred to a manager by the name of XXXX XXXX XXXX she wouldn't give her last name she everyone will know who she in the insurance department ) I explained everything that happened to XXXX and she couldn't understand why XXXX would cancel my policy because they pay my homeowners policy at the same time every year. XXXX did a three-way call with XXXX. The agent with progressive explained that every year M & T Bank has paid my premium late for the past 4 years after the expiration date but the Underwriter chose to reinstate it. XXXX with M & T Bank explained there's a 15 day grace period if the payment is received after the expiration date so why was it canceled this time around. The progressive agent explain the underwriter this time around decided not to reinstate due to risk and every year the payment is made after the expiration date. XXXX explain that they could try and help me find an agent that's willing to rewrite the policy but my premium will increase even more due to now being a high risk and the lack of coverage over what is now 60 days. This incident has been extremely stressfully and financially hard on me. My escrow payment had already went up by {$200.00} due to the increase on my original homeowner premium not sure why because my home was a new build it's only 4 years old and I've never had a claim filed. Now my premium is going to be even due M & T Bank dropping the ball year after year when it came to paying my homeowners premium on time. I had no clue my homeowners insurance had been canceled even though i received the renewal in the mail which i receive every year I didn't think anything of it because when I called in the previous years about M & T Bank assured me the payment would be made and it always was so this time around I felt like i didn't have a reason to be alarmed. I feel like M & T Bank should be reliable for this incident it's not fair that i am the only one being effected by the this mentally and financially all because of the banks carelessness. The only thing M & T Bank said to me was we are so sorry that this happen but you need to get forced place insurance or find another insurance company that's will to cover me asap. I feel like whatever my new premium is it should be covered by M & T Bank because they are the reason this happened to me. The point of escrowing is being at ease know that your taxes and insurance payment will be collected and paid on time and this has not been the case for me.