Things to find out for home insurance

jimbo83

Hi all

I'm looking to get my buildings and contents insurance for a house I am buying.

I am hoping to go round prior to completion to measure up etc. What should I aim to find out re locks etc to allow me to get an accurate policy in place for completion?

I'm trying to compile a list to go round with.

Cheers

Quentin

You ought to buy buildings insurance prior to exchange of contracts. If you are getting a loan to buy the property the lender will insist on it!

jimbo83

Quentin wrote: »

You ought to buy buildings insurance prior to exchange of contracts. If you are getting a loan to buy the property the lender will insist on it!

As opposed to having it on completion?

I thought it needed to be in place by the completion date!

Quentin

If you are getting a mortgage it will be a condition that the insurance is in place before they release the funds.

If not then it's your risk to decide when to insure from - though any disaster between exchange and whenever you start cover will be uninsured! And you would still have to complete!

jimbo83

Quentin wrote: »

If you are getting a mortgage it will be a condition that the insurance is in place before they release the funds.

If not then it's your risk to decide when to insure from - though any disaster between exchange and whenever you start cover will be uninsured!

I am still little away from even exchanging as the searches are expected back this week. I'm hoping to be able to arrange a visit with the vendor shortly so i can get the requisite policies in place which need to be.

katejo

jimbo83 wrote: »

Hi all

I'm looking to get my buildings and contents insurance for a house I am buying.

I am hoping to go round prior to completion to measure up etc. What should I aim to find out re locks etc to allow me to get an accurate policy in place for completion?

I'm trying to compile a list to go round with.

Cheers

Potential insurers usually ask the following:

Have you got

5 point locks on doors and window locks

burglar alarm fitted (I have never had one so don't know how much difference it makes)

Member of neighbourhood watch (again I have never been a member)

Are you likely to be away from home for long periods

In general don't take up insurance offered through your mortgage lender. It is usually expensive.

*Scarlett

The locks thing can be a bit of a "cod". Many companies will hopefuly offer you a quote without approved locks and in most cases the discount is minimal unless you are in a high risk postcode area or have high value contents or valuables (in which case they may require them).

Each company will have their own specification for locks so it would be helpful to know what you have in case you need them. If required, many companies ask for windows to have key locks and doors to have 5 lever mortice deadlocks but this can vary.

The only other thing I can think to check is if there is any body of water near the property - river, stream, etc.