Overview
Our policies have three main dates:
The Policy Start Date (also named Policy Effective Date)
The Coverage Effective Date
The Policy End Date
When quoting or binding a policy, you will select a start date. If the start date is the same as the purchase date, the coverage will become effective 5 days later. This means policyholders are only covered beginning 5 days after the policy start date.
Now, if the start date is five days out of the purchase date, the coverage will start immediately.
The policy end date is always one year after the start date.
Example 1: Start date is the same as the purchase date
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Explanation: |
Example 2: Start date is more than 5 days after the purchase date
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💡 If a policyholder wants their coverage to begin on the day they move into a new home, it’s important to plan ahead and purchase the policy before the move-in date. This ensures the coverage effective date starts as soon as they move into their new home.