Texas · A smaller house is a new rebuild number
Downsizing does not automatically make the insurance cheaper, and this page will not promise a percent off. Coverage A on the new house is the cost to rebuild that house, not the sale price of the one you left. Keep the old policy until you no longer own the old house.
For the weeks you own both, you need two policies. They insure two different buildings. That is not the same as two homeowners policies on one house, which other-insurance clauses coordinate so you do not collect twice. Do not cancel the old policy on the day you list it. You still own it, a lender may still be on it, and a vacant listing has its own theft and water wording. This page will not invent how many days “vacant” means. Bind the new policy so it is in force at closing. The lender on the new loan wants proof of the dwelling limit, not of the old house. If the new place is a condo unit you will live in, the form is usually an HO-6. The association’s master policy covers what the documents assign to the association. It does not automatically finish the interior or your belongings.
How to size the new limit: determining the limit and the dwelling. What you still own: personal property. A unit instead of a house: condo insurance. Gaps that survive the move: common gaps. Shop the new contract, not a ranking: the shopping guide.
