Buildings insurance before completion

Thrugelmir

Din85 wrote: »

Ah right, so does that mean it would do no harm to take a policy online now then ?

Not at all.

AndyT678

plumfin wrote: »

My Policy is generally £100 excess:
Contents with Accidental Damage £75,000
Unspecified Items £2,000
Bike £500

You realise that this contents cover won't be valid until you complete and move into the new house...

kingstreet

For over twenty years, brokers have been arranging cover in advance of exchange of contracts for their clients.

We;-

submit the application to the insurer on a "TBA" basis, with no start date
we ask the insurer to fax/email a letter confirming the cover is CML Handbook 6.14.2 compliant
when notified, we put the buildings insurance in force at exchange
we put the contents cover in force at completion
we notify the insurer the risk address is now the correspondence address.

It's only the aggregators with their stripped-out cover and need for lowest possible overheads have made this practice unusual, with the !!!-covering suggestion that it can't be done becauase there's no insurable interest until you own the house.

People need to think about quality of cover as much as price when considering insurance. One of the biggest claim causes in this country is "trace & access" and very few of those featuring in the comparison sites offer it.

Check yours.

Din85

kingstreet wrote: »

For over twenty years, brokers have been arranging cover in advance of exchange of contracts for their clients.

We;-

submit the application to the insurer on a "TBA" basis, with no start date
we ask the insurer to fax/email a letter confirming the cover is CML Handbook 6.14.2 compliant
when notified, we put the buildings insurance in force at exchange
we put the contents cover in force at completion
we notify the insurer the risk address is now the correspondence address.

It's only the aggregators with their stripped-out cover and need for lowest possible overheads have made this practice unusual, with the !!!-covering suggestion that it can't be done becauase there's no insurable interest until you own the house.

People need to think about quality of cover as much as price when considering insurance. One of the biggest claim causes in this country is "trace & access" and very few of those featuring in the comparison sites offer it.

Check yours.

So can any insurance company do this if you call them rather than quoting online ?
I am starting to wish this was sorted by the broker tbh.... that said the lack of communication from him does not exactly inspire me with confidence.
I tried to call the solicitor today to ask her what date to go for and when she required it.... typical, unable to get through even to reception.

I will try again tomorrow, hopefully get an answer and get it organized, i just don't want to cause any further delay due to me being a naive first time buyer.

plumfin

I have checked and the policy covers Trace and Access to £5000. This seems to be a standard limit, what do you think?

Din85

plumfin wrote: »

I have checked and the policy covers Trace and Access to £5000. This seems to be a standard limit, what do you think?

I just got a quote from L&G and thats also £5000 for trace and access.

I may go for it actually.

The thing i have found is that obviously providers discount for taking out contents and buildings insurance at the same time.

On the basis we already have contents through nationwide at the moment i tried the Halifax etc for just buildings... but it was not much cheaper than both together.

But the L&G quote i just got was just buildings, and it has two options, essentials and extra.

Both of which are less than £10.00 per month.

I reckon that is the best way to go for me, extra with no additional excess is £10.89 per month.

Job jobbed.