You’ve bought a new home: that means lots of paperwork, boxes, and excitement! You’ll certainly be busy until moving day. But between visiting the notary, going to the bank, and packing your dishes, don’t forget about your home insurance. To help you avoid additional stress related to your move, Assurances Multi-Risques would like to share a few insurance tips in this article that will make your life much easier.
New home and updating your home insurance file
Has your offer to purchase been accepted? Is the inspection process complete? Then you should contact your insurance agent or broker right away! Yes, this should be done at least a few weeks before you take possession of your new home. This professional will ask you several questions about your future home in order to properly analyze your situation. They will then be able to assess whether your insurance amount is still sufficient or whether your current coverage is still adequate. Your premium will likely be adjusted up or down.
If you are no longer satisfied with the cost of your home insurance, or simply want to ensure you have the best coverage at the best price to protect the biggest investment of your life, we strongly suggest you contact an independent insurance broker who is free to deal with multiple insurers. They can compare quotes for you and explain which is the best choice based on your needs.
Freeing yourself from this responsibility will certainly reduce your stress levels! And you will also benefit from a closer relationship with your broker.
Insurance tips for a successful move
Moving is much more than just transporting boxes from point A to point B. And to avoid any problems in the future, you need to surround yourself with competent professionals, including—you guessed it—a home insurance expert. As insurance brokers, we too often deal with people who are experiencing problems related to their real estate purchase. Here are a few quick tips:
Get the right information about the features of your new home
This can have a significant impact on your premium, your new coverage, and even the insurer’s decision to cover you or not.
Notify your insurer that your old house is vacant.
Si après votre emménagement dans votre nouvelle résidence vous demeurez propriétaire de votre ancienne maison pendant un certain temps, avisez votre assureur habitation de la vacance de cette dernière. Pour en savoir plus, nous vous recommandons de lire notre précédent article sur le sujet.
Notify your insurer if you rent out your old house.
Si vous décidez de garder votre résidence actuelle dans le but de la louer, encore une fois, il est très important d’en aviser votre assureur puisque cela peut avoir un impact sur l’acceptation du risque pour votre assureur et sur votre couverture. Pour en savoir plus, lisez notre précédent article sur le sujet.
Insure your stored goods
Si vous déménagez dans plus petit et entreposez des biens, faites-en sorte d’assurer ceux-ci. Vous pourriez d’ailleurs le faire auprès d’un assureur spécialisé dans ce domaine.
Find out the cost of the penalty before changing insurers.
Before changing your home insurance provider, find out how much the penalty will be. It could make the change less advantageous.
Be prepared!
Don’t wait until the last minute to make changes with your home insurer.
In closing, we know that moving involves a lot of things to think about. And between calling insurers and planning the decor, or comparing quotes and organizing your housewarming party, we can easily guess what you’d rather be doing. So to relieve yourself of these responsibilities while getting the best coverage or price, work with an independent insurance broker who will shop around for your insurance policies. This will give you peace of mind to choose the color of your walls and plan dinner for your guests.