Home insurance on a new build ?!

louiserer

Good morning,



I am hoping someone can help me.



We are due to exchange on a new build today and have beenadvised by our solicitors to have our home insurance effective today. My husband has contacted our mortgageadvisors who were arranging the cover to ask them to start the policy who havesaid as this is a new build insurance doesn’t have to start until completionday. This is apparently noted in all theinfo we received from the builders when we signed up. Does anyone know what the correct procedurewith this is?



Many thanks,

Quentin

The solicitor seems to be mistaken.

The norm is to have insurance in place at exchange with the exception of new builds.

louiserer

It is our solicitor advising we should have our insurance inplace today (exchange) it is the mortgage advisor and the building companysaying we do not need this until completion.

Quentin

Yes

Your solicitor seems mistaken.

louiserer

Thank you,

Why is that the case with new builds?

Quentin

Because the house isn't complete so you aren't responsible for it.