Don’t Forget Home Insurance
When it comes to purchasing or selling a property, there are so many things to keep track of that it’s easy to overlook anything. Insurance is one item you should not overlook.
Once your property is sold, you must notify your insurance carrier of the day on which ownership will be transferred (the “close date”). They’ll arrange for the cancellation of your insurance after you leave the house.
If you’re moving into a new house and want to leave your present property unoccupied for an extended length of time, you’ll want to ensure that both homes are insured. This may also apply to a condominium unit, even if it is fully vacant. (Inquire with your insurance carrier about maintaining liability coverage while dropping contents coverage.)
Avoid leaving insurance until the very last minute when purchasing a new property. Make an immediate call to your insurance provider. Ascertain that they are aware of all the amenities of your new house that may help you save money on insurance, such as alarms and wired-in smoke detectors.