How to use a generator transfer switch?

How to use a generator transfer switch?



I recently moved into a house that is equipped with a generator transfer switch for power outages. I want to make sure I know how to safely use it. 

The setup is as follows: The main house circuit panel is in the basement. Next to it is the transfer panel which has 6 circuits (well pump, furnace, fridge, various outlets). Each one of these circuits has a three position switch: Generator, Off, Line. In the normal conditions, the circuits are all turned to "line." Then, there is a 220 power cord that can run from the transfer switch to lawn so that you can hookup the portable generator. 

The previous owner said that all I have to do is startup the generator, run the power cord to the trasfer switch, and flip the circuits to "generator." 

I was always under the impression that you had to flip the main house breaker to isolate the house from the grid to protect utility workers? Is this true? 

I just want to make sure I've got the procedure down right before I have to use it. 

Thanks





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