Cover Unexpected Expenses
Avoid the additional stress of pop-up expenses that home buyers may encounter in the case of a delayed home closing.
Hotel & Lodging
Find a place to rest your head while you wait for your new home closing.
Moving / Storage
Store your household items or extend your moving truck rental while you wait.
Restaurants / Meals
We’ll cover your groceries and dining expenses while you are in limbo.
As pet lovers, we want to make sure your furry friends find a temporary home.
Insure My Closing provides insurance protection during residential real estate transactions for home buyers that experience a settlement delay. Coverage would be triggered if buyers become displaced from their current residence prior to a set closing date that gets delayed for specific reasons.
It Happens More Than You Think.
Delays that hold up the closing of a home sale happen more than you’d expect. How often have you experienced a this story?
A home buyer sells their existing home and coordinates their move to coincide with the close of escrow date on their new property. With a delay in the process means they would be without a residence and be forced to make arrangements to store their possessions and find suitable lodging until the settlement process is complete.
Causes of Delay
Cost of coverage is based on how far out a closing date is set and what policy limit you would like to purchase. Insure My Closing is currently available in 28 states.
Already a policyholder and need an open a claim? We’re here for you. Start your claim here.
Checking in on an open claim? Have new updates you need to tell us about? Provide info by clicking below.
Frequently Asked Questions
Am I eligible?
Our intent is to provide insurance coverage for the vast majority of buyers engaging in residential real estate transactions. Here are the eligibility criteria:
- You must be a buyer in the transaction (or be purchasing on behalf of the buyer if you are a real estate agent/broker).
- You must purchase this policy within 5 days of executing the real estate purchase contract.
- Your close of escrow date is 30 days or more from the date of purchase of this insurance.
- Your transaction does not fall into one of these categories:
If you meet this criteria, go to our ‘Start Here’ button and you’re on your way!
How do I pick which plan is best for me?
Both the Standard and Premier plans will reimburse you for the same types of expenses – hotel/lodging, moving/storage, restaurants/meals, and pet boarding. So you simply need to decide what your typical out of pocket costs might be if your closing was delayed and you had already committed to moving from your current residence... then pick the option that most closely aligns with those costs.
What if I purchase a policy, but never end up in a delay? Do I get a refund?
No. As with most types of insurance we hope you never have to collect, since that generally means something went wrong! We hope you experience a stress free and on-time real estate transaction. As the risk takers, our insurance carrier partner expects to receive and retain the premium.
With that said, we understand that sometimes residential real estate deals fall apart entirely. If that occurs you can notify us and request a cancellation with a return premium. Please review your policy for cancellation provisions.
What states are available for Insure My Closing?
AL, AK, CT, DE, D.C., IN, KS, ME, MD, MA, MI, MN, MS, NY, NC, ND, OH, OK, OR, PA, RI, SD, TX, UT, VT, VA, WA, WV, WY
When will all 50 states be available?
We are expecting to be countrywide in early 2020.
Is this available for condos or commercial properties?
Single family homes, townhomes, and condominiums are eligible. Commercial properties are not.
What does it mean “Coverage is available for buyers only"?
Consider these scenarios:
- You are a homeowner and have contractually agreed to vacate your current residence so a new owner can move in. You picked that date to coincide with the closing date on your new home. Then your new home closing gets delayed....or,
- You rent or lease your current residence and have notified your landlord of the date which you intend to vacate. Then your new home closing gets delayed...
In both of these cases, an Insure My Closing policy will reimburse hotel/lodging, moving/storage, restaurants/meals, and pet boarding up to policy limits.
Now, put yourself in the seller’s shoes....however unfortunate a delayed closing might be for the seller, there is no imperative for that party to the contract to vacate as long as he/she owns the property. Our intent is to provide ‘sleep at night’ insurance for the buyer.
Blogs & Resources
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