Buying a flat and Insurance

stefanod

Hi All,

I am buying a flat and wanted to get some advise regarding insurance.

I am just waiting for some documentation to go through and the next step will be to set an exchange date and thereafter a completion date.

I am buying a flat in a block of flats so do not need buildings insurance but I am considering contents insurance and life insurance.

At what point should I get these and are these both necessary when buying a flat ( I would be getting contents insurance in any event)

Any tips or recomendations would be gratefully received.

Thanks

olly300

Any time you feel like it. They aren't compulsory so you don't have to have them.

With contents insurance you are going to have to ring the company providing it up to make sure they add on to the policy to insure everything in the flat such as things like the bath suite and fixed floorings which if you had a house would normally be part of buildings insurance. Most flat buildings insurance only covers the structure of the block not things like the individual bath suites and fixed kitchen floorings of the individual flats.

You don't need life insurance unless you have dependants. You may be better of getting some sort of Permanent Health Insurance. I would go and do a search on the insurance MSE forum for advice on this as this has cropped up before. You need to use a broker to arrange it and it should start when your work sickness policy runs out. You should also take unemployment insurance out as well.

The_Fat_el_Hombre

What should someone expect to pay on buildings insurance on a flat? Is it possible to shop around or do you have to pay whatever the lessor charges?