Any implications if we sell home after ins payment & give buyers an allowance?

Free Insurance Comparison

 Secured with SHA-256 Encryption

Asked April 25, 2017

1 Answer


There is a way to sell your home after you make a home insurance payment and give the buyer an allowance without facing any implications. Once you have a serious offer on the home, you will want to call your home insurance company to let them know about the pending sale. They can then inform you if you can transfer the policy into the new home owners name. The home insurance company will send you a certificate that shows proof the insurance policy is still active. They will also send instructions for the buyer to get the policy into their name. All of this information will have to be verified by the realtors or the bank providing the loan on the home. The bank will want to ensure the home insurance policy meets their minimum requirements of coverage. Once the insurance policy has the lenders approval, the sale can proceed.

Answered May 1, 2017 by InsuranceStar

Related Links

Free Insurance Comparison

Compare quotes from the top insurance companies and save!

 Secured with SHA-256 Encryption