Life-event checklist
Insurance checklist for buying a home
Your lender will need proof of homeowners insurance before closing, so start shopping as soon as you have an accepted offer. Here is what to decide along the way.
Your checklist
Start two to three weeks before closing
Your lender needs the insurance company's information, the policy, and the premium paid or set up in escrow before closing.
Set the dwelling limit to rebuilding cost
The dwelling limit should reflect what it would cost to rebuild, which can differ from the purchase price.
Choose your deductibles, including wind and hail
Check whether wind and hail has its own deductible, and whether the roof is valued at replacement cost or actual cash value.
Add what matters for this house
Sewer and drain backup for a finished basement, scheduled valuables, and flood coverage if you are near water.
Update everything else
Cancel renters insurance after the move, update your auto policy's garaging address, and ask about bundling.
Questions to ask your agent
Bring these to your review
- What dwelling limit reflects the cost to rebuild this house?
- Does this policy have a separate wind and hail deductible?
- Is the roof covered at replacement cost or actual cash value?
- Should we add sewer and drain backup coverage?
Questions
Understand the coverage
Talk it through with a licensed agent.
Bring this checklist to a free, no-obligation review, or upload your current policies first so the agent can see what you have.