How Often Do I Pay my Homeowners Insurance Premium?

Answer:
There are a variety of options for

paying homeowners insurance. How often you pay your premiums could depend on several factors. Check with your insurance company to find out about specific requirements.

Consider each of the following options to find the one that will work best for you and your budget.

#1 – Include the cost of your homeowners insurance premium in your monthly mortgage payment. This allows the premiums to be held in an escrow account and forwarded to the insurer. This option ensures that your payments are not forgotten and they are paid on time.

#2 – Pay premiums on an annual basis. In some cases, insurance companies may provide a discount if you choose this option.

#3 – Have your premiums auto-drafted from your bank account on a monthly or quarterly basis. Utilizing this method may be better on your budget than having to come up with a large sum of money all at once.


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