You found the house, your offer was accepted, and the closing date is on the calendar. Somewhere in the stack of things your lender needs is proof of homeowners insurance. Most buyers leave it for last, and that's when it causes trouble. Here's how to get it done right and on time.

Your lender won't close without it

If you have a mortgage, your lender will require a homeowners policy that's in force on the day you close. They usually want three things before closing day:

• A binder or evidence of insurance showing the policy, the coverage amount and the effective date.
• The lender listed as mortgagee, using the exact name and address from your loan paperwork.
• The first year's premium paid, either up front or collected at closing and paid from escrow.

If any of those pieces is missing or wrong, the closing can slip. We see it happen every month.

When to start shopping

Start as soon as your offer is accepted, and no later than three weeks before closing. That gives you time to compare carriers, handle any surprises from the inspection, and get the binder to your lender without a last-minute scramble.

Tip: Ask your loan officer for the mortgagee clause on day one. It's the exact wording your lender wants on the policy, and getting it wrong is the most common reason a binder gets sent back.

What we'll need from you

• The property address and your closing date
• Year built and square footage (the listing usually has both)
• Roof age and type, plus any updates to the electrical, plumbing or HVAC
• A copy of the home inspection, if you have it
• Your lender's mortgagee clause
• Your current auto policy, if you want us to price a home and auto bundle

Surprises that can hold up a closing

An older roof. In South Carolina, roof age matters a lot. Some carriers won't write a home with an older roof, and others will only cover the roof at its depreciated value. If the inspection flags the roof, call us before you negotiate repairs with the seller. A newer roof can change your price and your options.

An older home. Homes built several decades ago may need a four-point inspection of the roof, electrical, plumbing and heating before some carriers will write them. Older wiring or plumbing can narrow your choices.

Prior claims on the house. Carriers check the claim history on the property itself, not just on you. A water or roof claim from the last owner can affect your quote.

Flood zones. Your lender orders a flood determination. If the home sits in a high-risk zone, flood insurance is required, and it's a separate policy. Even outside a mapped zone, homes near Lake Murray, creeks or low spots in the Midlands are worth a flood quote.

Wind and hail deductibles. Many SC policies have a separate percentage deductible for wind and hail. A 2% deductible on a $350,000 home is $7,000 out of pocket. Know yours before you sign.

Insure the house for what it costs to rebuild

Your dwelling coverage should match the cost to rebuild the home at today's prices, not the purchase price or the tax value. The land doesn't burn, so the rebuild cost is often lower than what you paid. In some cases, especially custom homes and homes with high-end finishes, it can be higher. We'll run a replacement cost estimate so you're not overpaying or underinsured.

Buying new construction?

New homes in Lexington, Red Bank, Chapin and around the Midlands often qualify for good rates because everything is new. The builder's coverage ends when you close, so your policy needs to start that same day. Ask your builder for the certificate of occupancy date and any wind or energy features, since those can earn discounts.

Don't forget the bundle

Buying a home is the best time to look at your car insurance too. Many carriers give a solid discount when your home and auto are together. We'll price it bundled and separate so you can see which one actually saves you money.

Why use a local independent agent for this

A captive agent can show you one company's price. We shop several carriers at once, which matters most when a house has an older roof, a past claim or a waterfront lot. We also work directly with local lenders and closing attorneys, so your binder gets where it needs to go on time.

Closing soon?

Call or text Ben at 803-920-8827 or start a home or bundle quote online. Send your closing date and lender info, and we'll handle the rest. You can also read more about home insurance in Lexington, SC.

Common questions from Lexington home buyers

How soon before closing do I need homeowners insurance?
Your policy has to be in force on your closing date, and most lenders want proof of it several days before. Start shopping as soon as your offer is accepted, and no later than about three weeks before closing.

Do I have to pay the full year up front?
Usually, yes. Lenders typically require the first year's premium to be paid before or at closing. It's often collected at closing and paid from your escrow, and later renewals are paid from escrow too.

Can I change my homeowners insurance after closing?
Yes. You can switch carriers later, but the new policy needs to start the same day the old one ends, and your lender needs proof of the new coverage. We handle that paperwork for our clients.

Is flood insurance required when buying a home in Lexington?
Only if the lender's flood determination puts the home in a high-risk flood zone. Standard homeowners policies never cover flooding, so it's worth a quote for homes near Lake Murray or other water even when it isn't required.

Why is my home insurance quote higher than I expected?
Roof age, the age of the home, prior claims on the property, the wind and hail deductible, and the coverage amount all drive the price. Shopping multiple carriers and bundling with your car insurance are the best ways to bring it down.

Should my coverage equal the purchase price?
Not necessarily. Coverage should match the cost to rebuild the house, which is often different from what you paid because the land isn't included. We'll estimate the rebuild cost for you.