I changed insurance carriers and received a refund from my prior insurance provider. Can I keep the refund?

It depends. If we paid both premiums from your escrow account within a 12-month period, you will likely have a shortage in your escrow account which you will need to repay. This shortage occurs because we anticipate payment of one premium every 12 months and if we instead pay two premiums during that period, the total disbursements will likely exceed the amount we collected in your monthly payments.

To minimize a potential shortage, you can deposit the funds back into your escrow account any of the following ways:

By mail: Endorse the refund check from the prior insurance carrier and mail the check to Cornerstone at the following address:
Attn: Cashiering
PO Box 3828 Englewood, CO. 80155

It is important to write "escrow account deposit" on the check.

Online: Deposit the check into your bank account and make a one-time online payment in the amount of the refund. Log into your online account and go to Payment.

By phone: Deposit the check into your own bank account. Then, make a one-time payment to Cornerstone online or by phone in the amount of the refund, specifying that it should be applied to escrow.

If we did not pay both premiums out of your escrow account or if the new insurance term began at the end of the prior policy's term, you may keep a refund from the prior insurance carrier with less risk of a future escrow account shortage.