Consumption and Real Estate
Somebody please help with question about homeowners insurance!?
Question : Somebody please help with question about homeowners insurance!?
I bought my house in October 2009. At closing I paid for a full year of homeowners insurance. Today I got an invoice from my insurance company. When I checked my account online it says that the full year’s premium was paid in November, then there is a “credit” for most of the full amount, and now they’re billing me a 183.00 premium. I thought I was paying this amount throughout the year with my mortgage. That is what they told me at closing. Otherwise my house payment would be about 185.00 less per month than it is. Someone please help!?
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Best answer:
Answer by mbrcatz
No, throughout the year, you’re paying the premium for NEXT year’s insurance, in full. But if you paid THIS year’s insurance in full, it should be PAID.
Sounds like the insurance company messed it up – maybe set you up for installments, saw the overpayment, set it up as a credit, probably mailed the credit out to your mortgage company, and are now billing you for it.
Call your agent. Have them straighten this out.
sometimes they get confused at renewal time it’s an easy fix.
1 Call your mortgage company ask them if they are paying the insurance or not. usually you can look online and it shows under the escrow account how much they are withdrawing for taxes and insurance.
also it’s better if you’r mortgage company let you pay the insurance on your own this way you would save 10% in escrow and save the interest accrued.
2 after you talk to your mortgage company (it’s an easy explanation over the phone it should take them a mn) call the agent and let them know if it’s either you want them to bill the mortgage company or bill you directly.
Good luck with that.
do not worry.