When To Pay Homeowners Insurance? 
Homeowners policies are traditionally paid directly by the insured , or by the mortgage company from impounds collected each month from the mortgagee as a part of the monthly payment . The premium itself is due on the first day of the policy , regardless of who is responsible to pay it . When a policy is not paid promptly , the policy can be cancelled and a replacement policy might require a new underwriting procedure to assume coverage . 