Escrow and Insurance

When closing comes down to the final meeting of escrow, home insurance is another subject that is typically covered. By insurance, I am talking about the basic fire and homeowner’s insurance that most homes carry. Some areas may cover additional types of coverage, so make sure you understand what you need and will have it if you are a buyer. Importantly, the premiums for these policies are often paid annually, and the buyer is expected to refund the appropriate portion of each policy premium to the seller in relation to the remaining prepaid months of the policy.