FAQs
Frequently asked questions.
Coverage, payment, and the things brokers ask us most often.
What type of policy does Stand offer?
Stand's HO-5 policy is designed as a premium option for high-value homeowners, offering far broader coverage than a standard HO-3. Unlike HO-3s, which insure belongings on a named-perils basis, Stand's HO-5 provides all-risk protection for both the home and personal property, ensuring replacement-cost coverage worldwide. It also incorporates wildfire resilience and mitigation support, aiming to reduce both risk and coverage gaps for homeowners in fire-prone areas.
The policy includes enhancements such as full replacement cost for the dwelling, land stabilization coverage, higher limits for valuables, and broader protection for other structures, business use, and guest property. Loss-of-use coverage is also more comprehensive, including extended civil authority evacuation benefits. On top of this, Stand's HO-5 bundles in extras that typically require add-ons — like debris removal, sewage backup, landscaping loss, refrigerated property, and data protection — making it a more complete, resilient, and homeowner-friendly product than traditional options.
What payment options does Stand offer?
Stand policies are direct bill. Accepted payment methods include ACH (electronic bank transfer), credit card, and check. Both Full Pay and Installment Pay options are available.
What is the difference between Full Pay and Installment Pay?
Full Pay: the full premium is paid up front at policy inception (or two weeks after binding).
Installment Pay: premium is split into quarterly installments, with the first due at the policy effective date.
When is the first payment due?
Full Pay: the full premium is due at policy inception (effective date) or two weeks after binding.
Quarterly Pay: the first installment is due at the policy effective date.
When are payment links sent?
Once a policy is accepted and all required documents (e.g., signed Docusign forms) are returned, Stand sends a secure payment link to the insured via our Ascend payment partner.
Can a broker pay on behalf of a client?
Yes. A broker may pay on behalf of the insured if the insured provides the necessary payment information. The broker should confirm payment method and ensure all applicable fees are covered.
What happens if the insured does not pay on time?
If payment is not received by the due date, cancellation notices may be issued in accordance with policy terms. Stand's Concierge will endeavor to reach out to broker and insured before issuing formal notices.
Who should I contact with payment-related questions?
Email concierge@standinsurance.com for any payment questions or to confirm payment status.