What happens if I sell my house during the Insurance period?

Selling your home during your insurance period should not present any major problems. Much depends on how your home insurance is handled. This means whether you pay directly to your agent or through a mortgage escrow account.

Working with escrow

An escrow account takes a portion of your monthly payment and saves it for making property tax and insurance payments. The payments are then sent to the tax department or insurance company when the money is due. If an insurance payment has been made recently, the refund will likely come from the insurance company.

If you have funds built up for the next insurance payment, your mortgage company may refund you directly, when your total mortgage account is closed. You should ask your mortgage company, “What happens if I sell my house?” for any escrow related questions you have.

Working with an agency

If your make home insurance payments directly to your agency, you will normally receive a pro-rated refund or credit. For example, if your yearly premium is $360, it works out to $30 per month. If you were to cancel or change your policy after 10 months, you could expect a credit or refund of $60. The amount would vary by the actual company.

What often happens is that you may simply transfer the amount of credit to a new policy. If you are purchasing a different home, your credit could be applied to the new insurance, or refunded if you open an escrow account.

You do need to remember that you should not cancel your insurance too quickly when you sell your home. Do keep your insurance until the sale of your home is legally completed. Please contact us with any questions you have about changes to your insurance policies, we are always happy to help.

I want to change my auto insurance coverage. When can I make changes to my policy?

The requirements and preferences that you set for your auto insurance coverage in Sandy, UT can change at unexpected times. It is possible that you will need to make adjustments, changes or even cancel your policy when the unexpected happens. Fortunately, many insurers will allow you to make adjustments when a situation arises that requires change.

Renewal Periods

Regardless of the reason or the adjustments that you want to make, it is always appropriate and possible to change your policy whenever the renewal period is coming up. Insurance policies are usually available to renew, cancel or adjust once every six months or one year, depending on the policy that you selected.

Any time your policy is coming up for a renewal, you can ask the company to make changes on the plan. The changes will usually apply to the new insurance period.

Major Life Events

Major life events, such as a marriage, divorce or the birth of a new baby, can impact the concerns and preferences that you may have for your auto insurance coverage. When these events happen, it is usually possible to make changes by contacting your insurance provider and explaining the situation.

You may be asked to provide certain details, particularly after a marriage or a divorce, since the changes can impact your current coverage and the requirements that you must have on your plan. The details and requirements may vary based on the situation and the reason that you are making adjustments.

It is possible to make changes to your auto coverage at any time, even if your policy is not set to renew for months. Contact us to speak to an agent to learn more about changing your policy.