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Frequently asked questions

How do I pay for my new homeowners insurance policy?

You can choose to pay for your policy up front or at closing with the rest of your closing costs.

If you pay up front via credit/debit card, your lender will just need to see the receipt of payment along with the evidence of insurance and declarations page.

If you choose to pay at closing with the rest of your mortgage closing costs, your insurance agent will indicate this on your policy and your lender will know to only charge you at closing.

For either of these payment choices, your lender will require that you pay for the entire first year’s premium.

If your insurance is escrowed, you can still choose to pay for the full year at closing or up front via credit/debit card. Once your loan closes, you will then be billed on a monthly basis for your insurance plus an additional small percentage of that premium (to be determined by your escrow officer) which will go towards your renewal policy next year. The extra amount is to account for any potential increase in your premium.

For more info, read our article on the types of homeowners insurance coverages.

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    © 2021 Better Holdco, Inc. and/or its affiliates. Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC provides real estate services; Better Cover, LLC provides homeowners insurance policies; and Better Settlement Services provides title insurance services. All rights reserved.

    Home lending products offered by Better Mortgage Corporation. Better Mortgage Corporation is a direct lender. NMLS #330511. 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007. Loans made or arranged pursuant to a California Finance Lenders Law License. Not available in all states. Equal Housing Lender. NMLS Consumer Access

    Better Real Estate, LLC dba BRE, Better Home Services, BRE Services, LLC and Better Real Estate is a licensed real estate brokerage and maintains its corporate headquarters at 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007. A full listing of Better Real Estate, LLC’s license numbers may be found here. Equal Housing Opportunity. All rights reserved.

    Better Settlement Services, LLC. 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007

    Homeowners insurance policies are offered through Better Cover, LLC, a Pennsylvania Resident Producer Agency. License #881593. 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007

    Better Mortgage Corporation, Better Real Estate, LLC, Better Settlement Services, LLC and Better Cover, LLC are separate operating subsidiaries of Better Holdco, Inc. Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation, and applicable and legal and regulatory requirements. Products not available in all states.

    The Better Home Logo is Registered in the U.S. Patent and Trademark Office

    Better Cover is Registered in the U.S. Patent and Trademark Office