Home insurance, before or after closing?

Question

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

Answer 1

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.

Answer 2

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.

Answer 3

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

Answer 4

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

Answer 5

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.