Purchasing a new home? Did your old house sell on time … or not? Considering going ahead with the move into the new house? Did you know that when you move out of the old home it is no longer covered by your homeowner’s insurance? Most homeowner’s insurance plans cover the home as long as you live at that residence. Once you move out, though the coverage may be up-to-date your carrier will not pay out if something happens to or within the empty dwelling. If you leave the an empty house – whether because it did not sell or the timing did not work out quite right with the buyer – an empty house insurance coverage is not the same as an occupied house. In fact the cost is higher. Timing sale and purchase maneuvers to coincide just so, requires careful planning and attentiveness. Purchasing a supplemental insurance plan to cover the house during the transition period just makes sense.
Technorati: NJ Real Estate News, Real Estate, NJ Real Estate Blogs, NJ Housing, New Jersey
