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 Insurance Essentials: Insurance Tips When Selling Your Home

by Byrne Anderson
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Selling your home can be overwhelming and take longer than you have planned. Unfortunately, many homeowners forget to consider their home insurance during this tedious process. It is a common mistake that can be costly and must be handled correctly. If you are selling your home, here are insurance tips you should consider to ensure you are still safe.

  • Inform the Agent

The first thing you ought to do if you have decided to sell your house is to inform your insurance agent. Once your house is listed, let the agent know that your house is for sale. They will help you know what to do to prepare for the sale. They can also help you if you need to sell your current home insurance and buy a new one for your new place. With property and casualty insurance, you can easily sell your home insurance if you think it will no longer be helpful for the new home. The agent can also connect you with a reliable agent if you move to another state to ensure your insurance is well handled.

  • Don’t Cancel Yet

Many homeowners make the mistake of canceling their insurance early before selling the house is complete. The process of selling a house is overwhelming. However, don’t make the mistake of canceling your insurance too early to get things done quickly. If you cancel the policy, your home will not be covered should something happen before the closing. That means you will have to cover the repairs and other expenses from your pocket. Therefore, it is advisable to wait until after the closing to cancel the policy.

  • Confirm You Are Insured

Talking with the agent to know if you are still insured during the moving process is vital. If you are using a moving company, you must know that your home insurance will not cover the items. The responsibility falls on the movers. Talking with your agent will help you know what can be covered. They will also help you know if you are underinsured and what to do to get full coverage.

  • Document Everything

When setting your house for showing, you need to document everything. Take a list of your inventory or take pictures. Having the evidence will help if something happens to your items during the relocation. It will help make the process of filing a claim smoothly.

  • Connect

There may be a situation where you buy a new house before you sell the old one. In such a case, you will own two homes simultaneously. It may also mean you will need two policies to cover both places. Again, communicate with the agent to know what to do, especially if you plan on moving to the new place before closing the old one. The agent may offer special coverage for vacant houses. That means you must purchase a new insurance policy for the vacant place and another for the new home.


You should do these vital things to handle your home insurance when moving to a new place. Remember, home insurance is home-specific, so you cannot transfer it to the new home. So, speak with your agent to know the best way forward.

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