buildings/contents insurance with new build/new postcode

tiff456

Hi, I searched but couldn't find anything on this.

Does anyone have experience getting building insurance on a new build - in the situation where you have just been issued a post code BUT all the insurance companies only buy the postcode database (from royal mail) a few times per year.

Therefore everyone I have rung so far says they can not insure me as they don't have my postcode in their database.

Does anyone know any companies who can deal with this or regularly update their postcode database?

many thanks for any advice or help
Tiff

InsideInsurance

Most insurers update their PAF file fairly soon after the Royal Mail release an update but RM only release them every quarter so if your unlucky it can be 4 months or so before it'll appear in the db. Once it is there it may well need a review to assign a rating factor but that should take a couple of weeks at most.

I've often lived in new builds and had similar problems generally but never to the extent that no insurer will offer cover. Assume you've used the aggregators and hit many insurers at the same time using their mechanism?

tiff456

If you mean price comparison I can't use those as it blocks me as soon as I try to put in the post code and it says no such address. I can't get past that stage as I can't give it an address it sees as valid.

Ive rung a few insurers and all said they can't insure me as they can't recognise the postcode so I'm stuck atm.

Spikey1

Is your house on a new estate or is it just an individual property ?

kingstreet

I ask our insurers to ask their underwriters to add the postcode to their database. It takes a couple of days, but I can then get a quote.

We are newbuild specialist mortgage brokers and have to do this regularly.

The postcodes are normally done well before completion and you don't have to insure the property until then. At what point is your transaction?