What Do I Need to Insure?

inside11Now that you have closed your mortgage you need to insure the following:

Land Registrar
The attorney will provide you with a completed return of ownership form which you need to take to the district revenue office for recording the transfer of ownership in the land & building register. It is necessary to do this promptly in the case of newly constructed homes to have the buildings assessed by the authorities.

Prompt Payment of Insurance Premiums
The bank will require you to make prompt payment on fire insurance premiums on the respective due dates.

Payment of Rates & Taxes
Your property can be foreclosed upon by the respective authorities for non-payment of WASA Rates and land and building taxes. It is therefore imperative that you pay these rates promptly.

Water and Sewerage Authority – Water Supply
When the district revenue office has registered the transfer of ownership you will be provided with a form to take to WASA to get the WASA account assigned to your name.

Trinidad & Tobago Electricity Commission – Electrical Supply
You will need to transfer the electricity service from the previous owner to yourself.