Property insurance... do you pay it monthly or just anually?

Question

Property insurance... do you pay it monthly or just anually?

Answer 1

It depends on the company.  Nonstandard carriers want it all in full, up front.  Most personal lines carriers will let you pay every month, or every other month, or quarterly.  Commercial property, well, it depends on the size of the premium and the risk type.

Answer 2

We have commercial property and we can pay it annually, bi-annuary, quarterly or monthly, we just tell the agent how often we want to pay.  For our home, we pay it annually.  So maybe it depends on the insurance company and how you want to pay it.  But I know that some are required to pay it with their mortgage (depending on their loan), which is every month.  To make sure check with your insurance agent.

Answer 3

It is usually determined by the bank. If a bank is not involved the insurance company will dictat how they want to receive the payment. Most make you pay the first year in advance and then the bank handles it form there with your taxes and insurance being paid in monthly installments.

Answer 4

You can go to your bank and set it up to be paid monthly. Or if you prefer paying a ton of money all at once you can pay annually.

Answer 5

I myself pay it monthly.  I have insurance with Farmers and I write check to them every month.   You just make a deal with the insurance company,

Answer 6

I pay annually, but that is my choice.  I could pay in installments, I think most insurance companies have a range of payment plans.