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Fire & Ice

A seller wanted to take care of all the open items on her “to-do” list before the closing.  Though I’d boldly stated in writing that she should not cancel her homeowner’s insurance before closing, a need for efficiency was pulling her towards giving notice. “I’ll just tell them to make it effective the day after closing.”

I repeated my emphatic NO! because I’ve heard stories of things that went awry.  Like the time a seller with a closing on Wednesday called Monday to ask the insurance company to cancel as of Thursday (stay with me). With one errant keystroke, the employee she spoke to canceled her coverage within 30 seconds of saying “goodbye.”

On Tuesday, a major ice storm kicked butt across our region, and a falling tree knocked off a corner of the house as it went down. Imagine the seller’s surprise when she found out her coverage ceased before the storm began.

Then there was the time the homeowner gave specific instructions to the insurance company on Friday to drop the policy the following Wednesday, but didn’t bother to stipulate to the movers on Monday that they shouldn’t smoke in the house. The buttheads caused a conflagration in a house that had no insurance coverage!

Did things work out in both instances? Yes, with lots of shouting and finger-pointing and threats.  That’s why it is much better to call after the closing, when no one on the other end of the phone can mistakenly engage in premature termination.

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