Understanding the Timing for Home Insurance When Buying a House

When buying a new house in Winter Garden, FL, one of the critical steps you will need to take is acquiring home insurance. Here’s a look at when in the home-buying process you’d likely do this.

When to Shop for Home Insurance

You can begin shopping for home insurance once you have a signed contract to purchase a house. You don’t have to start immediately, and might not if you’re more focused on a home inspection and survey. It’s important to not delay shopping for insurance too long, however.

Contacting an insurance agent with enough time before your closing date ensures that you’ll be able to shop around. Asking an agent to check policies for you is the easiest way to find the right coverages and premiums for your new house. It doesn’t take an agent too long to do this, but they may need a few days if there are specific questions or issues that arise (e.g. if the home was built using unusual construction methods).

If you’re still unsure when to start looking for insurance, consider contacting us at Abney Insurance once your property survey is ordered. This should be enough time to find a policy, is usually a lull in what needs to be done, and lets you first take care of the most pressing matters.

Get a Binder Before Closing

At closing, you’ll need to provide a “binder,” This is simply a document that shows you have insurance in place. It’s something your insurance agent can provide you with. While agents can get binders in a single day most of the time, plan on taking care of this several days before closing. That way, you’ll have some wiggle room in case something happens.

Have Questions? Consult With Us

If you’re purchasing a house in Winter Garden, FL, contact us at Abney Insurance. One of our agents will be happy to help you find insurance for your new house — and congratulations!