To cancel home insurance at closing
My home is sold and will be closed 16 days after the policy will be renewed. For just 16 days would I have to pay for the entire year in order to get a coverage? What is the policy on home sold? If I notify the insurance company would they just stop the insurance policy and no further payment required? Thanks. Canceling Home Insurance When House is SoldHi there, In a case like this, your insurer will most likely charge you only for the 16 days. There will also likely be a penalty for early cancellation and this varies by insurer. But you should not have to pay anywhere near the full year premium.  Ask another question at House Insurance Questions and Answers Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page. OR visit Canada Home Insurance www.canada-insurance-source.com |