The riskiest part of selling a home is between firm and closed.
Home Closing Insurance protects the seller financially when a buyer delays or defaults.
A firm deal isn't a closed deal.
The buyer delays
Financing slips, paperwork stalls, life happens. This is the more common one.
The buyer defaults
The deal doesn't close at all, and the home goes back on the market.
You wait, and you keep paying.
Mortgage
Payments continue on a home you thought was sold.
Property taxes
They keep adding up through the wait.
Utilities
Heat, power and water stay on.
Insurance
Coverage on the home has to continue.
And the move you planned gets pushed back with it.
The bill gets much bigger.
The seller starts over, and pays for it.
- Legal fees to pursue the buyer
- Carrying costs while the home sits
- Bridge loan costs
- Re-staging and re-listing
- Often, a lower sale price
What one default cost.
Home Closing Insurance protects the seller between firm and closing.
- The seller is the insured party
- Covers delays and defaults
- Backed by an A-rated insurer
Not home insurance, title insurance or a home warranty.
Two ways it helps.
If the buyer delays
With Essentials Plus or Comprehensive, your carrying costs are advanced through the wait, then repaid once the deal closes.
If the buyer defaults
Covers the resale shortfall, carrying costs, legal fees, bridge loan costs, re-staging and re-listing.
Up to $250,000, depending on the coverage selected.
Money when
you need it.
If your buyer defaults, an advance of up to half your home value protection coverage can be in your hands within 24 hours. Use it for any financial obligation, even ones unrelated to the home.
Repayable if the home re-sells without a shortfall.
Simple, from quote to closing.
Get a quote
Free, online, in minutes.
Not firm yet?
Pre-approve and hold your rate for 90 days.
Deal goes firm
Pay once. Your policy is issued, with a certificate for your real estate agent and lawyer.
You don't pay until the deal is firm.
One payment, once the sale is firm.
More coverage, higher price. Your quote shows the exact amount. No deductible, and no renewals.
An insured offer stands out.
A buyer can include Home Closing Insurance with their offer, arranged and paid for by the buyer. It still protects the seller, and the buyer's offer is stronger for it.
- Price and deposit
- Closing date
- Home Closing Insurance included
Protects the seller between firm and closing
The basics.
- Homes sold anywhere in Canada, outside Quebec
- Sale price under $4,000,000
- A licensed real estate agent involved in the sale
- Buyer's deposit of at least 1.5% of the price, or $4,000
- Resale homes (not new builds or pre-construction)
Coverage must be in place at least 15 days before closing.
1-833-766-2329 · Monday to Friday, 9 to 5 ET
Underwritten by Accelerant Insurance Company of Canada, rated Excellent by AM Best. Not available in Quebec.