Moving Homes: Does Homeowners Insurance Move with You?

Moving is a stressful time, especially when coupled with selling your old home and buying a new one. As homeowners, you have significantly more work to do then a tenant in a similar situation. From managing the property deed, getting inspections and last-minute renovations done, and having an open house for your home on the market, your homeowners insurance is probably one of the last things on the list for you. But how does homeowners insurance work when you’re moving homes?

You’ll Need New Homeowners Insurance

Unfortunately, homeowners insurance doesn’t move with you to a new property. So much goes into calculating a new policy that two similar homes can have large differences in policy costs depending on location, the age of the house, and countless other factors. Two major things to do when getting ready for a new policy:

• Get a Home Inspection: Have a licensed home inspector check out your new home, especially if it’s a newly constructed house. Make sure to have information about the construction material, roof type, and even the type of siding. All of these things are factored into a new quote.
• Don’t Forget Safety Features: One of the best ways to reduce the cost of homeowners insurance is to make your home safer. Even just installing new security systems or detectors (smoke, CO, and radon) can provide discounts on your policy.

After you’ve gotten this information, it’s time to talk to an agent. At H&K Insurance, you can get started by getting a free quote on your homeowners insurance here.

What to Do With Your Current Homeowners Insurance

Just because your homeowners insurance can’t be transferred over to your new home doesn’t mean you should cancel it now. Homeowners insurance doesn’t only make it easier to move, but can also help avoid any issues with your current home.

Don’t Cancel Until After Selling Your Home

Even if you have already moved, it’s important to safeguard your current property until after it has sold for two major reasons. First, this helps protect your asset while it’s on the market – the last thing you need is for a disaster to strike and not have coverage. The second is that, just like yourself, potential buyers of your home may use home inspectors. If they turn up problems in your home covered under your homeowner policy, you would not have to pay out of pocket for them.

Your Homeowners Insurance Can Help You Move

A major part of homeowners insurance is the protection of your personal possessions. Did you know that homeowners insurance extends outside of your home? This means that during your move your insurance could help protect your belongings. Just keep in mind your deductible and your limits, and talk to your agent about any restrictions your insurance might have on moving.

Moving is also a great time to look for a new policy and new coverage options to get the best deal. Contact H&K Insurance today to learn more about how we can help you get the best homeowners insurance for your new home.