Learn how to switch homeowners insurance companies when your premium is paid through escrow. Avoid a lapse in coverage with these steps.An escrow account offers protection to a buyer's personal money and mortgage funds. Worried about what an escrow account is and whether you need it? We take a closer look at how escrow, home insurance, and other costs work together. An escrow account helps ensure that expenses such as your homeowners insurance premiums and real estate taxes are paid on time. Chicago Title King, Pierce and Kitsap Counties, Washington. If there is no damage and the seller vacates on a timely basis, then the escrow can be released to the Seller. We provide residential real estate services including: Title Insurance, Closing and Escrow services, Construction Disbursing, 1031 Property Exchanges and more. Escrow, used to hold property taxes and homeowners' insurance, is paid into with each of your monthly mortgage payments.