How Does Escrowing My Homeowner Insurance Premiums Work?

– #55 – You can escrow your homeowners premiums at any time through your mortgage company. Basically what happens is your pay your homeowners premiums inside your mortgage payment.

The mortgage company collects the homeowner premiums and then pays the bill in one shot at the beginning of the policy every year. This has advantageous tax consequences as well as being relatively convenient.

However, you can still change your homeowners insurance at any time to a more competitively priced carrier if you so choose.

It is important to always consult a professional insurance agent about your specific insurance needs. Our team of insurance professionals at The Murray Group would be happy to answer any questions you have regarding your homeowner insurance policy. Click the link above to visit our website and learn more.

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