Do you automatically obtain home insurance with a previously insured home?
The bad news is that you don’t automatically inherit a home insurance policy, and the responsibility of getting one falls to you. The good news is getting insurance for your house is easier than you think it would be.
What Kind of Home Insurance Will You Need?
Are you going to move in and live in the house yourself? It would be best if you had homeowner’s insurance. Are you putting the house on the market? You’ll need an unoccupied property policy until you can find a buyer. Do you want to rent it out? You’ll need landlord insurance. Would you prefer to make it a vacation home? Then you’ll need second home insurance.
How to Transfer an Insurance Policy.
First, contact the insurance company. You need to do this within thirty days of the previous owner’s death, or the policy will be canceled. They may want to see the death certificate, so have that handy. Ask them about your coverage and when the next payment is due. You may have the policy rewritten under your name, or you may have to take out a new policy. Should the estate be required to go through probate before it legally becomes your property, you may need to discuss with the insurance company that the house is insured until then. Once the probate period is over, you need to show the homeowner’s insurance company proof of ownership. You can then take out a policy in your name or shop around for a new one.
Home Insurance from Don Allred Insurance in Burlington, NC
If you are in the Burlington, NC area, we at Don Allred Insurance hope you will consider us for your home insurance needs. We are dedicated to treating our clients right.