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.
Watch this video “How Does Escrow Work with My Homeowners Insurance Payments?” for more details:
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created by Ryan Hanley