Yes - maintain your homeowners insurance through the closing date and title transfer. If a fire, flood, or other covered event damages the property between contract signing and closing, your insurance covers the loss. Canceling early exposes you to catastrophic financial risk. Most policies can be canceled effective on the closing date with a prorated refund. Notify your insurer after closing is confirmed.
From the seller playbook: Insurance Coverage Transition at Sale - Seller Obligations Through Closing
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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