Anonymous asked in Business & FinanceInsurance · 1 decade ago

Home insurance, before or after closing?

Should I purchase home insurance before or after closing? Closing is only 3 weeks from now

6 Answers

  • Sue
    Lv 6
    1 decade ago
    Favorite Answer

    Get insurance BEFORE the closing & best advise, start calling today. This gives the agent time to find you a company that best fits your needs & if there is an underwriting issue - old roof, old wiring or some other repair needs to be done to the house before it is insurable, you have time to work this out with the seller before closing.

    Our office has people that call the day of closing & sometimes we can insured them, sometimes we can't & have to turn them away do to some underwriting issue.

    Source(s): Insurance agent
  • 1 decade ago

    BEFORE. Can't close without bringing policy to closing. Need lender info to give the insurance co. Must be paid up, one year in advance. Don't you have an attorney or realtor to tell you these things??? Look at your mortgage commitment docs--it's there.

  • 1 decade ago

    You need to have the binder and paid receipt AT the closing.

    Buy it now, to be effective your estimated closing date. If it falls through, you can cancel the policy flat, and get a full refund.

    Source(s): agent, 21+ years
  • 1 decade ago

    You have to have a one year paid policy at closing to close. Start shopping for the best price.

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  • berson
    Lv 4
    4 years ago

    that's required to purchase a house. frequently lenders wrap it on your loan fee. so which you should discover a householders coverage provider on your section, or on line. places like Geico, Alstate, Farmers, and so on carry this type of coverage. this saves the two your investment and your lenders. you relatively can get coverage previous to time, only vehicle coverage, you will have it earlier you are able to sign up a vehicle *atleast in NYS. they'll positioned up the coverage Holder information to roll it into your loan fee. the cost for the coverage is predicated on the loan which you're turning out to be, and that they belongings which you will be putting interior the insured abode and belongings. in keeping with the place you reside fees could be distinctive. you're able to ought to call for an estimate. save around earlier you purchase.

  • Jay L
    Lv 7
    1 decade ago

    go to your agent. He will set it up to start at closing. He can handle it for you completely.

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