Insurance policies are valid for one year, so the renewal process is done on an annual basis.
On loans whose regular mortgage payments include a portion to pay for insurance, we will make the payment directly to the agency and/or insurance company on the due date.
On loans whose regular mortgage payments do not include a portion to pay for insurance, you must send us the new policy and a payment certification before the policy renewal date.
Email both documents to our Insurance unit at: segurospropiedad@popular.com. Please remember to write your loan number on all documents.
If we do not receive evidence of your paid policy, we will purchase a policy at your cost, as required by current law, 45 days after notifying you of the expiration of the coverage.
Remember that Hazard or Flood insurance policies, if required, must be renewed annually during the life of the loan. When the loan is canceled, we will ask the insurance company to eliminate Popular as the mortgagee. If the property guarantees more than one loan, you must keep the policy active.
To request the replacement of a policy, you can send us the new policy at least 30 days before its expiration date so it can be paid with the funds held in your escrow account.
If you send it after 30 days of its expiration date, it must be submitted with a Payment Certification.
All documents related to insurance premiums must be emailed to: segurospropiedad@popular.com.
In the event your property is damaged by fire, hurricane, earthquake, or flood, you should immediately contact your agent or insurance company to file a claim.
It is important that before contacting the company, you:
If you cannot find the insurance policy number, our staff can provide it along with the insurance company’s contact information.
Important: During this process, you must continue making your regular mortgage loan payments.
We are receiving an extraordinary volume of calls, which is affecting our waiting times. We appreciate your understanding and your trust in us.
Call us at 787.724.3659787.724.3659 or Access Mi Banco Online (desktop version), log in by entering your username and password, and in the upper part of the website click on “Contact Us”. From there, write your message, and we will gladly assist you.
We encourage you to consult the following information regarding useful and accessible solutions for you.
FDIC Member. Products and services offered by Banco Popular de Puerto Rico.
1Withdrawals are subject to the availability of funds in your account.
2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”
