Is There A Grace Period For Homeowners Insurance? 
A grace period is not a regular feature of homeowners insurance . Premium notices generally go out several months prior to renewal . Your mortgage company has also received copies of the billing . When the end of the policy passes and the premium hasnt been received the companies often exercise courtesy extensions to encourage payment . If these extensions are not exercised the policy is cancelled back to the end of the policy term . Any claim arising from the period of time following the cancellation date until the final notice of cancellation would not be covered . 