Having Homeowners Insurance Billed thru Impound Account

Woodward

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Paul Woodward

Bains & Woodward Insurance

Tow Truck Insurance

Commercial Truck Insurance

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Article Source: http://www.articlesbase.com/ – Having Homeowners Insurance Billed thru Impound Account

Many home loans require that the borrower maintain an impound account that is associated with the loan. In most cases this account is used to renew the homeowners insurance associated with the property. These payments for the new business and renewal homeowner’s insurance policies are mailed out directly from the insurance department that manages the account. Often times the homeowner does not need to verify the amount paid or coverage on the insurance.

With these payments being made without any effort be the insured, many homeowners are left with possible exposure regarding the coverage listed on the insurance policy. In