Can Home Insurance Be Transferred To a New Owner?

Home insurances are expensive, and we are sure that you would consider the existing home insurance when selling the house. In such a case, it is natural to have a question about the transfer of the home insurance to the new owner. If you are planning to sell your home or have already sold your home, this page is especially for you. We have shared some valuable insights about the transfer of home insurance during the home sale. Let us now move ahead and check out the details now.

Can Home Insurance Be Transferred To A New Owner?

Can Home Insurance Be Transferred To a New Owner?

No, the home insurance can’t be transferred to the house’s new owner. The new homeowner would need to purchase separate insurance after buying the house. Even if you transfer the home to your blood relative (child or spouse), they need to call the insurance company and negotiate for the new insurance. It is very important to have the same name on the deed and the insurance to avoid any issues during the claim process.After the home’s sale, you need to cancel the insurance policy on the old address.

So, What is The Alternative?

If you are selling your old house and purchasing a new one, then there is an alternative available. You can transfer your home insurance to the new home. This is usually easy when you are moving within the same state. You can discuss the house move with your insurer and pay the difference. If you are moving to a different state where your present insurer doesn’t provide service, then you would need new insurance. If you are not transferring the home insurance to a new home, you must cancel the policy.

More Information On The Transfer

The cancellation should be requested on the date of sale, and you have vacated the property. As soon as the sale is complete, the deed is registered on a new property owner, and it is not your liability anymore. You can also wait a few days after the sale is complete to ensure that you have not caused any damage to the property while moving out. In case of such damages, the home insurance may cover you.

Another interesting part about the transfer of home insurance is that it covers the goods while they are being moved. Your personal belongings are still covered in case of theft or fire. The home insurance would not cover any loss due to the poor handling of the goods; otherwise, it should be good to provide you with basic coverage. Moreover, most home movers provide you with additional insurance to mitigate the risk associated with the movement of personal belonging.

Final Verdict

So, to conclude, the home insurance can’t be transferred to the new owner. The premium for the new owner may be different since many factors impact the home insurance premium. In such a case, the transfers would add additional complexities to the home insurance. So, you should transfer your home insurance to the new home or cancel it, depending on the situation.


Sumit Kumar Yadav has experience analyzing business and finance of big to small companies. Loan, Insurance, Investment data analysis are his key areas.