Insurance companies offer homeowners' insurance policies to people who own and occupy their residence. Once foreclosure occurs, you may occupy your residence but you no longer own it.
If you are allowed to remain in the home for a period of time, you may be able to contact your insurer, explain the circumstances and have your policy amended to a Tenant Homeowner form. Tenant homeowner policies are issued to people who occupy a residence but don't own it. The coverage is similar to homeowners' insurance except it doesn't cover the structure. It covers certain damage to your personal property, additional living expenses you may incur should your home be damaged and your have to live in temporary quarters while it is being repaired and certain personal liability exposures. You may need to adjust the amount of insurance on your personal property be consistent with what it would cost you to replace all your personal things.
If you move to a rented home or apartment, you may be able to amend your homeowners' policy to a Tenant Homeowners' form and amend the address to that of your new residence.
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If you are allowed to remain in the home for a period of time, you may be able to contact your insurer, explain the circumstances and have your policy amended to a Tenant Homeowner form. Tenant homeowner policies are issued to people who occupy a residence but don't own it. The coverage is similar to homeowners' insurance except it doesn't cover the structure. It covers certain damage to your personal property, additional living expenses you may incur should your home be damaged and your have to live in temporary quarters while it is being repaired and certain personal liability exposures. You may need to adjust the amount of insurance on your personal property be consistent with what it would cost you to replace all your personal things.
If you move to a rented home or apartment, you may be able to amend your homeowners' policy to a Tenant Homeowners' form and amend the address to that of your new residence.