Home insurance when moving?

Benson

I currently have content andbuilding insurance on my property, we are going to the solicitors office tomorrow to sign the contracts with a completion date of 11.02.11

When do i change my house insurance?

From what ive been reading some say at the point of exchange which i assume will be tomorrow - but then what happens to my current home?

Or do I insurance both properties?

CloudCuckooLand

Insure both.

Keep the current insurance until completion.

Get insurance for the new place from exchange.

The insurer will probably charge something for the overlap. Or even, in these internet days, insist on seperate policies for each.

But then the eventual refund of the first will offset the second.

timmyt

Benson wrote: »

I currently have content andbuilding insurance on my property, we are going to the solicitors office tomorrow to sign the contracts with a completion date of 11.02.11

When do i change my house insurance?

From what ive been reading some say at the point of exchange which i assume will be tomorrow - but then what happens to my current home?

Or do I insurance both properties?

ask your lawyer as your new proeprty insurance obligations from exchnage depends on the contract - but certianly you continue your own insurance

G_M

Look at your policy document carefully or call your insurance company.

Many (not all!) insurers will cover this eventuality and will provide cover from Exchange on a new purchase. But you need to check. See Direct Line here:


6 Cover when selling or buying a

home

a) If you are selling your home, the buyer will be covered under

section 1 up to the date the sale completes, unless the buildings

are insured by another policy.

b) If you are buying another property to live in, your new property

will be covered under section 1 for up to three months from the

date contracts are exchanged or, in Scotland, the date your offer is accepted.

Or see Churchill. Transfer your existing policy on Exchange to your new home and :

3 Selling your home

If you sell your home and, between the date you exchange

contracts and the date you complete the sale, it is damaged by
anything under this section, we will provide cover for the person

buying your home.