You sold your house and let the buyers move in…

There are many situations that come up where you no longer reside in your home. You sell your home and let the new buyers move in for a few days before the closing, you move into a nursing home, or you buy a new home and make some renovations before you move in.

There have been numerous occasions where claims have happened in these situations and have been denied. The issue is residency. Whether you were a resident of the home at the time of the claim. This is not so much of an insurance issue. There is nothing in the insurance policy that describes being a resident of the home. There is, however, a vacancy clause, which is well-defined in the policy.

The simplest solution is to talk to your insurance agent and let he or she know what you are doing. They can then convey that to the company underwiter and either confirm that yes they are still covered in or the policy may need to be written on a dwelling fire policy. Better to find out before a claim arises.

The above is meant as general information and as general policy descriptions to help you understand the different types of coverages available to you. Always consult your policy for actual coverages and exclusions.

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