Can I Transfer Home Insurance?

  1. 250 POINTS
    Carl Busseau
    Roseville, CA
    Your current Homowners Insurance policy is specific to your home that you live in right now and cannot be transferred.  The premium that you pay for Home insurance is based on factors such as: square footage, age of the home, construction type, neighborhood, number of rooms, and quality of kitchens and bathrooms (as these are usually the most expensive to replace in a total loss).   The insurance company will give you a full refund of what they call "unearned premium".  Basically, they will refund you on a pro-rated basis all the money that you have paid that you haven't received insurance for.  You can then roll that money into your new policy.
    Answered on March 6, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A homeowner’s policy is specific to a particular residence. If you purchase another residence and want similar coverage, that can be arranged by applying for coverage on the new residence. That policy will apply to that specific residence. The title insurance company or whoever is handling the closing will require a certificate of insurance for the new residence.
    Answered on October 9, 2014
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  3. 1844 POINTS
    David W. Clausen
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    Homeowners insurance can not be transferred. If you are referring to someone buying your current home- they will need to be assessed for prior losses and sometimes credit history & pets for eligibility (among other things). If you are purchasing a new home the same will apply to you.
    Answered on August 27, 2015
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