Mortgage Company Handles Your Foremost Insurance Payment
Good news! If your previous insurance policy was paid through your mortgage company’s escrow account, Foremost will continue this convenient arrangement for your replacement policy.
How It Works
When you receive your Foremost replacement policy offer, you’ll notice that the mortgage company listed on your policy’s declarations page will be the designated payee. This means that Foremost will send the insurance bill directly to your mortgage company for payment.
By allowing your mortgage company to pay the premium, you effectively accept the Foremost policy. There’s no need for you to take additional steps, as the process is handled seamlessly between Foremost and your lender.
What to Expect
- Mortgage Company Billing: Your mortgage company will incorporate the Foremost insurance premium into your monthly mortgage payment.
- Escrow Account: The funds for your insurance premium will be drawn from your escrow account, which is an account your lender maintains to hold money for property taxes and insurance.
- Policy Confirmation: You should receive confirmation of your new Foremost policy from your mortgage company or directly from Foremost.
Important: While your mortgage company handles the payment, it’s essential to review your Foremost policy to ensure it meets your coverage needs. You can request a copy of the policy from your mortgage company or directly from Foremost.
By understanding this process, you can relax knowing that your insurance coverage is secure without any additional effort on your part.