I am about to buy my first house. So excited! However, I’m confused about when I pay for homeowners insurance. Is this part of my closing costs? Will home insurance be paid in advance?
can be paid in advance as part of your closing costs.
Some lenders will include the first year of payments in your homeowners insurance policy into your closing costs or your mortgage payment. That means you’ll pay more upfront when buying the home but then won’t need to worry about your home insurance bill for an entire year!
Otherwise, it’s up to you how you want to pay for your homeowners insurance. You can pay for the entire year at once or monthly.
If you want to find the best possible insurance at a low price, you should download
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And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price.
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.