Step 27 To Selling a Home: Cancel or Transfer Your Homeowner’s Insurance
Your homeowner's insurance provider will also need to know that you are selling your home. Give them a call and let them know that you are moving and that your insurance on your home should end as of the date of your closing. Your insurance company will prorate your premium and refund you back any money that you have already paid for coverage in advance, so make sure they also have your forwarding address, so they know where to send that check!
If you're purchasing another home and using the same insurance company for your new homeowner's insurance policy, you may be able to transfer any remaining premium on your current property to your new home. Your new policy/coverage should be activated on the day you are closing on your next home (so if there is a gap between the close of your sale and the close of your next purchase, you don't want to be paying for those extra days). Discuss, in detail, your closing schedule with your homeowner's insurance agent to be sure everything is handled smoothly.
If you're in the market for a new homeowner's insurance company for your next home, we are happy to recommend a couple of our favorite resources. Click here to read more about our favorite insurance providers, with whom we have personally worked (on our own insurance policies) over the years -- make sure you tell them Maura and Ben sent you!