Buildings insurance for exchange of contracts on house purchases

gemgolfdavies

Hi All, i need your help. I have just been on the phone for 35 minutes to my current buildings and contents insurer. I am buying a new house, but as my sale of my current property has fallen through, i will be purchasing without selling. We are exchanging on Thursday and therefore need buildings insurance in place, but my insurer wont let me do this as they said that i cant have two lots of buildings insurance in place at one time.

I hope i haven’t confused you yet! So as i said, we are exchanging on Thursday, completing on 19 November, but the house needs work doing on it, so wont be moving in officially until 7 December - which would be the point at which we would move our current contents insurance to the new house. We would however still have to keep our old house insured with buildings insurance.

I just don’t know what to do! Why is this so difficult, surely i cant be the only person out there who needs insurance on 2 houses!!!

Your help will be much appreciated.

Thanks,
Gemma

caeler

Call an alternative supplier (quote via comparethemarket et al). Keep current policy seperate. I think you will find your no claims bonus will not be transferrable, you will start from scratch on new place. But I'm no expert and have no personal experience of this.

G_M

they said that i cant have two lots of buildings insurance in place at one time.

What a load of *****!
Either they are ignorant ****s, or you were talking at cross-purposes.

Were you trying to include the new property on your existing policy? I assume you had originally planned to transfer the policy from house A to B, perhaps with an overlap betwen Exchange and Completion? this is normal, and acceptable. When you told them you were not selling, they would veto the new property on the existing policy.

But there is nothing stopping taking out a 2nd policy, either with them or another company.

timmyt

gemgolfdavies wrote: »

Hi All, i need your help. I have just been on the phone for 35 minutes to my current buildings and contents insurer. I am buying a new house, but as my sale of my current property has fallen through, i will be purchasing without selling. We are exchanging on Thursday and therefore need buildings insurance in place, but my insurer wont let me do this as they said that i cant have two lots of buildings insurance in place at one time.

I hope i haven’t confused you yet! So as i said, we are exchanging on Thursday, completing on 19 November, but the house needs work doing on it, so wont be moving in officially until 7 December - which would be the point at which we would move our current contents insurance to the new house. We would however still have to keep our old house insured with buildings insurance.

I just don’t know what to do! Why is this so difficult, surely i cant be the only person out there who needs insurance on 2 houses!!!

Your help will be much appreciated.

Thanks,
Gemma

the insurer must not understand you, as insurance on multiple houses is common as rain. speak again to them.