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Buildings insurance on exchange
JPG82
Posts: 43 Forumite
Hi we are hopefully exchanging next week and I am organising insurance.
I'm not entirely sure how best to proceed with this. We currently have buildings and contents for our house we are selling with legal and general. What is the best way forward to secure buildings insurance for our new purchase?
Option 1. Speak with legal and general and transfer existing policy to new house? If I do this does that mean my current house is uninsured?
Option 2. Buy extra cover for the few weeks between exchange and completion? Even with another company then cancel and transfer our exists policy across?
Any other suggestions?
Thanks for any advice
I'm not entirely sure how best to proceed with this. We currently have buildings and contents for our house we are selling with legal and general. What is the best way forward to secure buildings insurance for our new purchase?
Option 1. Speak with legal and general and transfer existing policy to new house? If I do this does that mean my current house is uninsured?
Option 2. Buy extra cover for the few weeks between exchange and completion? Even with another company then cancel and transfer our exists policy across?
Any other suggestions?
Thanks for any advice
0
Comments
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Read your insurance policy!
Some will include cover to a new property at no cost during the Exchange to Completion period.
If not, ring and get a quote for transferring the cover to new property, then shop around and see if your current insurer is competitive on the new property.0 -
We are hoping to exchange in next week or so too, FTB, but have contents insurance with Legal and General and I spoke to them today about adding buildings insurance.
They said they start new policy for new house from completion date (I've given them our provisional date) but they provide free buildings insurance between exchange and completion on the new property which is in addition to usual policy.
Give them a ring, it was really quick and easy
0 -
Thanks for the replies - I'm ringing them Monday morning with your info in hand0
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