When you are selling your home, you may find yourself unsure of whether you need to tell your home insurance company and when you need to tell them. Here at Old Pueblo Insurance, serving the greater Oro Valley, AZ area, we want to make home insurance as simple as possible for you. Here is what you need to know about home insurance and selling your home.
Prior to Selling Your Home
In most cases, you do not need to tell a home insurance company that you are putting your home up for sale. The exception to this is if you are moving out. If you are no longer living in the residence, and have the home up for sale, you should let your home insurance company know. Many insurance policies are designed to protect you when you are living in the home, not after you have moved out. Changes may need to be made to ensure your home is still covered when you are not living there.
When a Sale is Pending
Once you have an offer on your home, you should notify your home insurance company that you have a sale pending on the home and the date that the sale is scheduled to close. This gives them notice that your policy may need to be canceled soon. If a sale falls through, let the insurance company know.
When the Sale Goes Through
Once the sale of your home has been completed, contact the home insurance company. Let them know both verbally and in writing. The policy can then be canceled.
If you are selling your home, you may also be in the market to buy a new home. Here at Old Pueblo Insurance, serving the Oro Valley, AZ area, we can help you transfer your existing policy or begin a new policy when you purchase a new home. Contact us today and let us help you figure out the right move for your home insurance needs.