How do you obtain homeowners insurance if your new home won’t be your principal residence right away?
Sunday, October 19th, 2008 at
3:47 am
Comments (4)
Olivia D asked:
We’re buying a new home and had planned on staying in our rental for a few months while we make some renovations to the new house. However, our insurance company tells us that they won’t give us a homeowners policy unless our new home is our principal residence within one month of our closing date. Does this mean we have to tell our insurance company that our new home is our principal residence, even though it won’t be until approx. August?
We’re buying a new home and had planned on staying in our rental for a few months while we make some renovations to the new house. However, our insurance company tells us that they won’t give us a homeowners policy unless our new home is our principal residence within one month of our closing date. Does this mean we have to tell our insurance company that our new home is our principal residence, even though it won’t be until approx. August?
Also, our insurance company will cancel our renters policy, since they’ll assume that we’ll no longer need it after we close on our house. This isn’t true, because we had wanted to stay in our current apartment for a few months more. Has anyone encountered a similiar situation, and if so, how did you handle it? Thanks so much.