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I’m Moving – What do I do with my insurance?

Posted: 5 October, 2023

When moving to a new home I am sure it can be stressful and the last thing that is on your mind is your insurance policies. It is one of the most important things that need to be done to ensure that your family and belongings are properly covered. Some of the things that need to get done are canceling your prior insurance, updating your address on your auto insurance, and setting up a new policy for your new home. Insuring your new home Finding the correct type of policy and coverage for your new home might be challenging. Here are a few things to consider when you are obtaining a new policy:

Homeowners Insurance – If you just purchased a single-family home or even a townhouse, in some cases you will need homeowners insurance. This will provide coverage for the structure of your home, your personal belongings, liability, and even hurricane coverage if selected.
Renters Insurance – If you are renting a house, an apartment, or even a condo you can purchase renters insurance. This will provide you with coverage for your belongings and liability coverage.
Condo Insurance – If you just purchased a Condo or a Townhouse where the association covers the outside structures then this is the type of policy you need.

A few other things to be keep in mind are:

The price that you were paying for your prior insurance might not be the same. The prices for home insurance, condo, and renters can vary depending on location, age, size, and the condition of the home.
Make sure to contact emilan Premium to shop around for the best price and coverage.
Do not wait until the last minute to shop for your new insurance. Some carriers offer a better rate if you purchase the policy in advance.

Updating your Auto Insurance It is very important to contact your insurance agent to have them update your address to your new home. Always verify the drivers and the vehicles on the policy as well. When updating just the address on your auto policy you may notice that there is a change in premium. Anytime you move it is good to always shop for the best rate. If you are moving from state to state that is where it can become a little more complicated. There might be differences in the laws and regulations of the new state. You might be required to get a new policy for the new state. Cancelling Current Insurance Cancelling your current insurance policy is another thing you will have to check off your list of things to do. This is something you want to do after you have secured your new home and/or auto insurance policy. You want to make sure you are not double insured and are not double paying for your insurance. Also, have a copy of your new proof of insurance to ensure you are canceling the prior insurance policy on the same effective date. When it comes to insurance, you are covered for the days you are insured with that current carrier. For example, your homeowner insurance is for 12 months with a total of $2,000 premium, and you have had the coverage active for 6 months. You will receive a refund of around $1,000 after your cancellation. Keep in mind to contact emilan Premium to discuss any questions or concerns you might have.

Written by: Premium Emilan