Home Insurance

What happens to your homeowners insurance when you move?

By July 3, 2018 No Comments

Moving can be stressful. Whether you’re selling one home and buying another or moving into your first home from a rental, the last thing you want to concern yourself with is insurance. Do you know what happens to your homeowners insurance when you move?

Here are a few things to consider:

  • No two homeowners insurance policies are the same
  • Location, construction material, and age of the home all play a role in cost
  • Rating is based on occupancy of the home (i.e., primary residence, rental property, vacation home, etc.).
  • Insurance premiums are factored into affordability for loan purposes

At Brashears Insurance, we write affordable homeowners insurance policies that meet and surpass the needs of individual clients. We adopt simple and effective approaches and our agents are professional, experienced, and always willing to help. We ask the relevant questions and listen to clients in order to customize each policy to the needs of clients. If you are planning to move, contact Brashears Insurance at (805) 564-7645 today.

Homeowners Insurance When You Move

In most instances, if you’re already a Brashears Insurance customer, little effort is required on your part to transfer homeowners insurance policies from one home to another. We will collect the pertinent details on the new home and issue a new policy accordingly. We will explain to you what changes you need to make and help make sure your old policy is canceled.

Can You Keep Your Old Policy?

Unfortunately, no. When you move, your homeowners insurance policy must be rewritten. Your insurance policy is written specifically for your home. Moving into a new home means that you will have different needs. However, our agents will help ensure the process is smooth and seamless.

One thing to note is that you may not always be able to keep your same insurer. Different insurers have different risk tables and will not always write coverage in the same place. The benefit of working with a broker, such as Brashears Insurance, is that we can shop coverage among our numerous carriers and often even save you time and money.

Do You Need to Cancel Your Old Policy When You Move?

You will need to cancel your old homeowners insurance when you move, but we recommend waiting until after the sale transaction has closed. It is possible to get so excited over your new home that you cancel your old policy too early. Even after you move out, the physical structures could still be damaged.

Also, if there is overlap where you occupy two homes simultaneously, we handle it different ways depending on where the contents are located and liability exposure of both. For more information on what happens to your homeowners insurance when you move, contact a Brashears Insurance agent today at (805) 564-7645.