If you have ever bought a home or tried to sell one, then you know the challenges that you can face. One that you will have to decide about and answer is the issue of home insurance in West Hartford, Connecticut. To help you understand the process of insurance when buying and selling a home here is some information that you will need to know.
The Insurance Process When it Comes to Buying and Selling a Home
- When selling your home you will need to keep a policy in force for as long as the home is in your name. Until the other party signs their name on the dotted line you are responsible for any damages that can occur.
- When buying a home you will need to get a new policy in order to protect your new investment. The insurance will not take effect until you have full possession of the home after the final closing.
- You will not be able to move one policy from one home to another. The house must have a completely new policy in place so it is protected for the right amount of coverage.
- On the policy you cancel any unearned premiums that are left are usually refunded back to the policyholder. When this happens you will get a check in the mail several weeks after the cancelation date of the policy.
If you are thinking of buying or selling a home, you will want to contact your independent agent today. As your agent we can help guide you through the entire insurance process. It is vital that you speak with us right away. We can give you the tools you need to find the right policy for your new home.