Your lender or management company might have control over your payment. If your home has been destroyed, the amount of the settlement and who gets it is driven by your policy type, its specific limits and the terms of your mortgage. For example, part of the insurance proceeds may be used to pay off the balance due on the mortgage.The paycheck on this investment would be $2,400, paid after the investment is submitted and approved by the insurance provider. Insurance License. A state insurance body must license you before you can offer an insurance product for sale. You may then pay fees to be licensed in additional states without having to retake an insurance exam.Average home insurance cost by state. While many factors go into calculating your rate, where you live is chief among them. Homeowners in states that are prone to hurricanes, hail storms, tornadoes and earthquakes tend to pay the most for home insurance.Dear Insurance Adviser, Do I have to use all the money paid out from a home insurance claim to do repairs? I’m getting a large amount of money but can get the work done for less.For example, let’s say your taxes for the year on your home are $2,500, to be paid out over the course of 12 months. You might also pay an insurance cost of $500 for the year. With escrow you’ll pay $250 each month in addition to your mortgage to cover both costs. Without escrow, you’d pay $2,500 on your yearly tax bill.Your home insurance premium is typically paid monthly, along with your monthly mortgage payment. homeowners insurance is almost always required in order to get a home loan. Don’t be surprised if your lender requires you to purchase homeowners insurance before the mortgage company will sign off on your loan (this protects the lender’s.I say this because structural (or dwelling) damage $ disputes become mute once the dwelling has been repaired. Typically, insurance companies will pay based upon the actual cost incurred to repair the dwelling. If the insurance company still resists paying on this basis, the Appraisal Clause is still available to resolve that dispute.