Before closing you need to purchase a Hazard Insurance policy on your new home. Even if the sellers are remaining in the house after closing, you need to be sure you are covered under your own policy. This is required by mortgage lenders. If you need a reference for an insurance agency, ask your realtor, friend or neighbor. It is best to compare at least 3 policies before chosing one. Be sure to ask lots of questions about each policy offered, there are too many options to list. Consult an insurance expert for more advice.