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Can I pay home insurance monthly?
I am getting home insurance quotes of around $1900 for $250k in dwelling coverage. That sounds pretty high to me. Can I pay my home insurance monthly or do I have to pay in a lump sum annually?
Sadie Lovemore · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s a great question! You can pay home insurance monthly with most providers if you’re paying out of pocket. The perk of paying annually, however, is that sometimes home insurance companies will give a discount for paying everything up front.
If your home insurance is already included in your mortgage, your lender covers the yearly cost, and you can discuss different payment options with them. If they’re requesting you pay them the entire annual premium, you may have to wait until you have one year’s worth of equity.
The bottom line is that you want your
home insurance
to properly protect your home, so you need to pay your bills—whether monthly or yearly—on time. Multiple factors go into your home insurance quotes:
- Your location
- Dwelling coverage amount
- Personal property coverage amount
- Deductible amount
- Other structures (fence, detached garage, pool, etc.)
- Your address’ claim history
- Your personal claim history
- Add-ons you might need (like hurricane coverage)
The last thing you want to do is cheap out on your home insurance, but there are affordable options out there—all you need to do is compare quotes from multiple providers.
If you want to save money on home insurance, use licensed broker
Jerry
. Signing up takes less than a minute and you’ll be presented with affordable quotes from top providers almost instantly. Jerry can even help you cancel your old policy. View full answer
- Gregory R.
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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.
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