The short answer
There is no single downsizing policy. Moving from a family house into a condo, a rental apartment or a retirement residence changes several policies at once: the house you are leaving, the place you are moving into, the car and any heirlooms. A licensed broker can work through each one in order, so the old house stays protected until it closes and the new home has the right cover from the first night.
- Homeowners selling a long-time family house to move somewhere smaller
- Older adults moving into a retirement residence, independent living or a seniors apartment
- Adult children helping a parent plan and carry out a move
- Couples trading a house for a condo or a rental and driving less
- Anyone handing furniture, jewellery or collections down to family before a move
4 licensed brokers in the network handle this. In Alberta, Canada, a request for downsizing insurance for seniors can be offered to up to three of them, chosen because they are licensed for this line and place. They are test brokers while we are in demo.
See the brokers → Outside Alberta, Canada you can prepare and save a request today; sending opens place by place. Brokers answer with their own quotes. Broker.insure does not quote, advise or take commission.
01 / What it covers
The parts worth understanding
The house during the overlap
Between moving out and the sale closing, the old house may sit with little or nothing inside. Home policies often change once a home is empty for a while, so ask the broker how long full cover lasts and what conditions apply.
The new address
A condo unit, a rented apartment and a retirement residence suite each call for a different kind of policy. The building owner or landlord insures the structure; your belongings, improvements and personal liability are usually yours to arrange.
Contents in a retirement residence suite
The residence operator generally insures its building and its own operations, not the furniture, art, electronics and personal items a resident brings. Some residences ask residents to carry their own liability cover, so read the residency agreement.
Belongings on the move and in storage
Furniture in a moving truck or a rented storage locker may be treated differently from belongings at home. Ask what the policy says about goods in transit and in storage, and what the mover itself accepts responsibility for.
The car, if it is used less
Driving fewer kilometres, parking in an underground stall or giving up a second car can all change an auto policy. Cancelling outright is a different decision from reducing use, and it can affect your insurance history later.
Heirlooms and gifts to family
Jewellery, art or collections listed on your policy stay your responsibility until they are given away. Once a ring or a painting belongs to a son or granddaughter, it needs to be on their policy instead.
Who can speak for you
Insurers generally deal only with the named policyholder unless someone else has written authority. A power of attorney or an authorized contact on the file may let a family member make changes; ask each insurer what it accepts.
02 / Get ready
Bring this, and expect these questions
Gather
- The possession date for the new home and the expected closing date for the old one
- Your current home, auto and any valuables policies, with their renewal dates
- The residency agreement, lease or condo bylaws for the new address, especially any insurance clause
- A list of what is moving with you, what is going into storage and what is being sold or given away
- The mover's contract and what it says about damaged or lost items
- Appraisals or receipts for jewellery, art and collectibles, and the names of family members receiving them
- How many kilometres you expect to drive each year after the move, and where the car will be parked
- A copy of any power of attorney, and the names of family members the insurer may speak with
- Who will check the old house while it is empty, and how often
A broker will ask
- When do you take possession of the new place, and when does the old house close?
- Will anything stay in the old house after you move, such as staging furniture?
- Is the new home a condo you own, a rental, a life lease or a suite in a retirement residence?
- What does the residence or landlord ask you to insure yourself?
- Which valuables are moving with you, and which are going to family?
- Will you keep the car, and how much will you realistically drive it?
- Is anyone else driving the car, such as a son or daughter helping with errands?
- Who, besides you, should the insurer be allowed to speak with about the policy?
Not sure of an answer? Leave it. "Not known yet" is a fine answer, and a broker will help you fill it in.
03 / Build your request
Answer a few questions. Get your own list.
Pick what fits. Your answers shape the list beside them, and they are saved to your request as plain facts a broker can read. "Not sure yet" is always a fine answer.
04 / Three situations
See which one sounds like yours
A widower moving into a retirement residence
A man in his eighties is leaving the Lethbridge bungalow he owned for forty years for a one-bedroom suite in a retirement residence. His daughter in Calgary is organizing the move, and the house will be listed once it is cleared.
First steps. Read the residency agreement for any insurance clause, and ask the broker for a contents and liability policy for the suite that starts on move-in day. Tell the house insurer the move-out date, and confirm whether the daughter can speak for her father on both policies.
A couple trading a house for a condo
A retired couple in Red Deer bought a two-bedroom condo and take possession six weeks before their house sale closes. They plan to move gradually, carrying boxes over on weekends, and to keep only one of their two cars.
First steps. Bring the condo bylaws, the possession and closing dates and both auto policies. Ask the broker to start the unit owner policy on possession day, explain what the house policy allows during the overlap, and show how removing the second car affects the one that remains.
A mother passing heirlooms to her children
Before moving into a rented apartment, a mother is giving her late husband's watch collection to her son, and a diamond ring and a silver service to her two daughters. All of it is listed on her home policy with appraisals from years ago.
First steps. List each item, its appraisal and who receives it, and choose a date for each handover. Ask her broker to remove pieces as they leave, and have each child talk to their own broker about adding the items before the handover rather than after it.
05 / Words you will hear
The jargon, in plain words
- Possession date
- The day you receive the keys and legally take over a home you bought. Cover for the new home usually needs to start on this day, not on moving day.
- Residency agreement
- The contract between a retirement residence and a resident. It sets the rent and services, and often what the resident must insure, such as belongings and liability.
- Scheduled item
- A valuable listed by name on a home policy, usually with an appraisal or receipt, so it carries its own amount and wider protection than ordinary contents.
- Power of attorney
- A legal document giving someone authority to act for you, for example on property and finances. Whether an insurer accepts it for a policy change depends on its wording and the insurer.
- Life lease
- An arrangement found in some seniors housing where you pay for the right to live in a unit for life or a long term without owning it. The contract decides who insures what.
06 / Common mistakes
What trips people up
- Cancelling the house policy on moving day when the sale has not yet closed.
- Assuming the retirement residence's insurance covers your furniture, jewellery or liability in the suite.
- Giving heirlooms away while they stay listed on your policy, or before they are added to the recipient's.
- Cancelling car insurance completely without asking how a gap could affect your history if you drive again.
- Leaving a family member to call the insurer for you without any written authority on file.
- Forgetting belongings left in a storage unit or a relative's basement during the move.
Ready when you are
Turn this into one clear request.
Save it, add what you know, and choose when to send it. A licensed broker who handles downsizing insurance for seniors takes it from there.
07 / Questions people ask
Straight answers
Does a retirement residence insure my belongings?
Usually not. The operator generally insures the building and its own liability, while residents are responsible for what they bring into their suite and for accidental damage they cause, such as an overflowing sink. Some residences require residents to carry their own liability cover. Read the residency agreement, then ask a broker about a tenant-style policy sized for a suite.
What happens to my home insurance between moving out and closing?
Many home policies limit certain protections once a house has been empty for a stated number of days, and that number varies by insurer. Tell the insurer the date you move out and whether any furniture stays behind. The broker can confirm how long cover continues as it is and whether anything extra is needed until the buyer takes possession.
Should I cancel my car insurance if I hardly drive anymore?
It depends on whether you still plan to drive. Lowering the yearly distance, changing where the car is parked or dropping a second vehicle may reduce the cost while keeping you insured. Cancelling ends your cover and may leave a gap in your history if you later want to drive again. A broker can lay out each option before you decide.
Can my son or daughter talk to my insurer for me?
Insurers generally discuss a policy only with the named insured unless they have written permission. A power of attorney covering property and financial matters may be accepted, and some insurers let you add an authorized contact to your file. What each insurer accepts varies, so ask in advance and send a copy of whatever document they request.
How do I insure heirlooms I am giving to family?
While an item still belongs to you, it stays on your policy. Once it is given away, it becomes the new owner's responsibility, and they will need to add it to their own home or tenant policy, often with a recent appraisal. Plan the handover date with both brokers so a valuable ring or painting is never uninsured in between.
Is there special insurance for people over a certain age?
Home and auto insurance are not usually sold by age group; an insurer rates a home or a car on its own facts. What changes in later life is the situation: a smaller home, a suite in a residence, less driving and fewer valuables to keep. A broker can match each of those changes to the policy that fits it.
General information, not insurance advice. Broker.insure is a directory and request service: it is not an insurer and does not quote, bind or advise. Policy terms, availability and what is required where you live depend on your situation and on licensed professionals. Updated 2026-10-31.