When Do You Pay Home Insurance?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    The technical answer is that you pay for a homeowner’s policy before coverage begins. The first premium is normally paid by the title company as a part of closing procedures. On a practical level the premium is normally paid from an impounded account by your mortgage company. If not paid by the mortgage company you will receive a bill and the premium is due before coverage renews.
    Answered on October 31, 2014
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