When do I need to pay my homeowner’s insurance policy in full?
Your homeowners insurance policy will need to be paid in full by the date you close on your mortgage. The simplest way to do this is to give your Better Mortgage Home Advisor an invoice from the insurance company you’ve chosen. Better Mortgage will collect the insurance premium (to pay on your behalf) as part of your closing costs.
Alternatively, you can pay the first year’s homeowners insurance premium directly to the insurance company and then provide your Better Mortgage Home Advisor with a paid in full receipt. In this case, your Home Advisor will need the paid-in-full receipt before closing, as they won’t be able to complete the final review of your loan application without it.
Discuss your options with a Better Cover insurance expert