Under contract? We’ll get your homeowners policy quoted, bound and sent to your lender before closing.
Quick answer: In North and South Carolina, your lender will require proof of homeowners insurance — usually a binder or declarations page naming the lender as mortgagee — before your closing attorney can schedule closing. Start shopping as soon as you’re under contract, ideally 2–3 weeks out. CAP Insurance Group can quote 20+ carriers and send proof to your lender and attorney, often the same day.
When do you need homeowners insurance?
| Time before closing | What to do |
|---|---|
| As soon as you’re under contract | Request quotes; share inspection report, square footage, roof age |
| 2–3 weeks out | Choose a policy; confirm lender’s mortgagee clause and loan number |
| 7–10 days out | Bind coverage effective on the closing date; we send the binder/dec page and invoice to your lender and closing attorney |
| Closing day | Coverage starts; first-year premium is usually paid at closing or before it |
Closing in less than a week? Call (704) 540-4200. We can often bind in a day when we have the property details. Recently we helped a customer who needed to send their lender proof of insurance same day. Our team’s #1 goal is to be responsive and quick. We were able to quote and issue the home policy on the same day.
What your lender needs from us
- Binder or declarations page with the effective date = closing date
- Lender listed as mortgagee, with loan number
- Dwelling coverage at least equal to the loan amount or replacement cost (lender rules vary)
- Paid receipt or invoice, if premium is paid at closing
- Flood policy too, if the home is in a FEMA special flood hazard area
What affects the price on a Charlotte home
- Roof age and material — the biggest factor many buyers don’t expect; older roofs can limit carrier options
- Replacement cost — not the purchase price; lot value isn’t insured
- Home age, wiring, plumbing and HVAC updates
- Claims history on the property (CLUE report)
- Your deductible and credit-based insurance score
- Bundling with auto – we always recommend bundling for savings and ease of use
New construction homes
New construction usually prices well — new roof, modern systems. Coverage starts when you take ownership at closing; the builder’s policy covers the build. If you’re moving in before closing or the lot is in your name during construction, ask us about builder’s risk. Also homeowners in Myers Park, Eastover and Dilworth often do renovations which need specialized coverage and considerations.
Buying in South Carolina (Fort Mill, Tega Cay, Lake Wylie, Rock Hill)
CAP is licensed in South Carolina and writes homes across York and Lancaster counties. The process is the same: proof of insurance to your lender and closing attorney before closing.
We work with Charlotte lenders and realtors
CAP has a dedicated Realtors & Lenders program. We work with several lending groups and firms and know what is needed for closing.
Questions buyers ask
How soon before closing do I need homeowners insurance?
Your lender needs proof before closing is scheduled. Shop as soon as you’re under contract; bind 7–10 days before closing.
Read: When do you need homeowners insurance before closing? →
Can I get homeowners insurance the same day?
Often, yes, if we have the address, square footage, year built and roof age. Older roofs or prior claims can add a day.
Do I pay the first year up front?
Usually yes — at or before closing. After that, the premium is typically paid from your escrow account.
Does the policy have to match the purchase price?
No. It should match the cost to rebuild the house, which can be higher or lower than what you paid.
Do I need flood insurance in Charlotte?
Only required if the home is in a FEMA special flood hazard area, but standard homeowners policies exclude flood. We’ll check the flood zone for you.
Under contract? Get your homeowners quote today
Call (704) 540-4200 or send your contract address and closing date. Also visit our quote page here: capinsurancegroup.com/start