Can Manitoba Home Insurance be Transferred to New Owners?

September 15, 2025

If you're selling your Manitoba home, can the buyers simply "take over" the existing home insurance policy?

Unfortunately, the answer is no. The new owners cannot assume or transfer your existing Manitoba home insurance policy into their name.

Why home insurance policies aren't transferable

Home insurance policies are legally binding agreements between the insurer and the current homeowner. They are tailored to the specific property and the risk profile of the policyholder.

These contracts factor in the Manitoba owner's claims history, credit score, and lifestyle, as well as unique details about the house itself (such as construction, materials, location, and replacement cost).

While the home may be more or less the same at the time of the handover, the new owner’s personal details will have changed, making the existing policy no longer valid.

When ownership of a Manitoba property changes

The existing policy remains valid only for the seller, not the buyer or the property itself.

The new Manitoba owners must arrange their own insurance coverage to protect their interests (and those of their mortgage lender) from the moment they take possession. Their new home insurance policy will become active at the closing of the sale.

What Manitoba sellers should do with their home insurance policy

Notify your insurer about your intention to sell. You'll need to maintain your Manitoba home insurance until the buyer officially takes legal possession, as any damages that occur before the sale finalizes are still your responsibility. Once the transaction closes, you should:

· Inform your insurer and provide the date the house is no longer in your possession.

· Cancel your policy effective the closing date (or request a refund for any prepaid premiums).

· Obtain written confirmation that your policy is cancelled.

There is no reason to keep a home insurance policy after you’ve sold your Manitoba home, so go ahead and cancel it after the sale has fully closed.

What Manitoba buyers need to know

Home insurance isn’t legally mandatory anywhere in Canada, but of course it’s highly recommended to protect what is likely one of your biggest assets. Most lenders will not approve you for a mortgage without a home insurance policy in place.

Are there any exceptions for keeping previous home insurance?

If you want to keep your previous home insurance and adjust it to your new home, you’re your insurer might be able to transfer elements of your policy to your new Manitoba home. In that case, contact your insurer for possible policy amendments or to create a new customized policy for your new residence. Remember that no policy can ever be transferred directly to the new owner of your old home.

Important takeaways

Home insurance policies are not transferable to the new owners of your house. The buyer must purchase their own policy independently before taking possession. As the seller, keep your policy active until the sale is finalized, then cancel once everything is in place. Always consult your insurance provider for specific guidance during the selling process.

For further advice and personalized service, speak with one of Western’s licensed home insurance experts! Our goal is to make sure both you and the new owners are protected through every step of the real estate transaction.

FAQs

Can a buyer assume my existing Manitoba home insurance policy?

No, home insurance policies cannot be transferred to new owners. The buyer must arrange their own policy because insurance contracts are individualized and based on your personal risk profile and ownership.

What should I do with my Manitoba home insurance policy when I sell my house?

You should keep your policy active until the sale is finalized, then notify your insurance provider to cancel it effective the closing date. Any unused premiums may be refunded to you.

Is it possible to transfer my Manitoba home insurance to a new property if I’m moving?

Yes, in most cases, you can transfer your policy to cover your new Manitoba home, but it’s not a direct transfer. Wyatt Dowling’s home insurance experts will reassess your risk and likely issue a new policy for the new property, possibly with different terms, conditions, or premiums.

Will I have coverage for my belongings during the moving process?

Yes, some home insurance policies provide limited coverage for belongings during the move, but it’s best to check your home insurance provider or consider purchasing additional moving insurance for full protection.

Can I cancel my Manitoba home insurance at any time, and will I get a refund?

Yes, you can cancel your policy at any time. If you paid your premium in advance, you might receive a refund for the unused portion, though cancellation fees may apply depending on your provider and how far you are into your policy term. Western Financial Group can help you navigate this process.