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Insuring both properties between exchange and completion??
Options
bikingbarney
Posts: 657 Forumite
Hi all.
We exchanged on our new house on Friday and it states that I have to insure the new house from exchange and also keep the house we are selling insured until completion.
I have landlords Insurance with Tower gate via CIA Let.
Is it possible to put the new property onto my current insurance so that both are still insured for two weeks and then on completion just transfer the policy to the new house??
Im loathe to pay out for a new policy for two weeks?
Any other ways around it??
We exchanged on our new house on Friday and it states that I have to insure the new house from exchange and also keep the house we are selling insured until completion.
I have landlords Insurance with Tower gate via CIA Let.
Is it possible to put the new property onto my current insurance so that both are still insured for two weeks and then on completion just transfer the policy to the new house??
Im loathe to pay out for a new policy for two weeks?
Any other ways around it??
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Comments
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Why don't you ask them?Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Most people who move house will be in the same situation, so I expect the insurance company will have a solution for dealing with it.0
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Closed today??0
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Ask your insurer. The other option may be to take out a new policy for the new place and cancel the old one after completion, depending on the cancellation price/policy. Or, if the old policy's cancellation would be expensive, buy a new one with cheaper cancellation charges, then cancel that and transfer the old one might be cheaper.
Either way, it's really unlikely to be one of the larger costs or hassles of moving...Our buildings insurance expired about two weeks before exchange when we moved, and the company which gave us a good quote for the new place wouldn't do anything particularly cost-effective for the old one - choosing a new policy carefully then cancelling it meant that our "double-insurance" exposure cost about £15 for (IIRC) a month's cover.0 -
I spoke with Direct Line about this when I renewed last month and they run a policy side by side on both until completion. A none issue really!0
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Many insurers (not all) will include cover on new property between exhange and Completion.
If the insurer is not open today, get out your policy (or find it online) and read it........!0
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