Cancel Homeowner’s Insurance
When should you cancel your homeowner’s insurance?
If you’re purchasing another home, transfer your insurance to the new house, arrange the transfer to go through after settlement. This will prevent a lapse in case of an emergency the day of closing.
Settlement on your property is scheduled for Friday morning at 9 o’clock. There’s an unexpected hail storm Thursday night leaving substantial damage to both the roof and siding.
When the buyers arrive at the property Friday morning they discuss the damage that was done by the previous night’s storm.
Because the damage was done prior to settlement and receipt of funds you are still responsible for the damage. You don’t want to cancel your insurance too soon otherwise you could be left paying out of pocket for any damage.
Give your insurance agent a call to find exactly when you should cancel or transfer services. This is one situation in which you definitely want to err on the side of caution.
If you aren’t moving into a newly purchased home, switch to renter’s insurance, and discuss the next step with your insurance agent.
Questions? Please give us a call at 703-539-2053 or email us at [email protected].
Step 1: Hire a Realtor
Step 3: Declutter and Stage!
Step 4: Conduct a Pre-Listing Inspection
Step 5: Repairs
Step 6: Deep Clean
Step 7: Professional Photography
Step 8: We’ll Pre-Market Your Home
Step 9: We’re live on MLS, now what?
Step 11: Time for Showings
Step 12: Week One on the Market
Step 13: You’ve got your first offer!
Step 15: Offer was accepted! Congrats!
Step 16: The Home Inspection Period
Step 18: Select a Title Company
Step 19: Scheduling closing date
Step 20: Hire Movers, Start packing!
Step 21: Utilities Transfer
Step 22: Home Owner’s Insurance Cancelation
Step 23: Hire a Cleaning Service
Step 24: Buyer’s Mortgage Approval
Step 25: Final Walkthrough
Step 26: It’s Closing Time!
Step 27: Review Us
About the Author: The above article was written by Abraham Walker, Your Alexandria Virginia Real Estate Agent, helping clients market their homes to achieve high sales with a quick closing time is my main priority.
He’s the co-founder of Ask A Walker and can be found on YouTube, Facebook, and HERE on this blog.
Abraham can be reached via email at [email protected] or by phone at (703)539-2053.
He’s happy to answer all your real estate questions.
Thinking of selling your home? Check out my 20+ step process to selling your home. Or contact me now to start the home selling process. Same day appointments are available on a case by case basis.
Your Alexandria, VA Realtor, Abraham Walker, helps people sell and buy real estate in the following Northern Virginia area cities & neighborhoods: Kingstowne, Island Creek, Cameron Station, Overlook, Alexandria, Old Town, Belle Haven, Fort Hunt, Mount Vernon, Springfield, West Springfield, Burke, Lorton, Woodbridge, Lake Ridge, Manassas, Annandale, Fairfax, Arlington, McLean, Reston, Herndon and of course Vienna.