Problem setting up insurance

class2ldn

Hi , just spoke to our solicitor who said we need to have our insurance in place for exchange but not to put it on risk yet.
Just spoke to direct line who said they cant do this.
Solicitor said not to start the policy because we dont have a specifc exchange date so what do we do?

jbainbridge

Just get a quote for now. When you are about to exchange ring up and buy it.

class2ldn

Solicitor wants proof weve got the policy set up, yet direct line are saying they cant do that as it goes on risk as soon as it starts .

class2ldn

I did suggest setting it up for a future date and she said no as it means ringing up and changing the date when we finally know the exchange date.
We'll send them the quote for now if its not good enough they will have to get back to us.

kleapatra

I exchanged last week. My solicitor phoned me and said everyone was ready to exchange and that she needed my buildings insurance policy. I immediately phoned my contents provider (M&S) and in less than 5 minutes they had added buildings insurance to it (an extra £9 for the next 8 months). The policy was instantly emailed to me which I then forwarded to my solicitor. I had a phonecall 5 minutes later saying we had exchanged.

G_M

Most solicitors will accept a quote based on the assumed Exchange date. Once you have the Exchange date confirmed, go online or phone and activate the policy.

Off-topic, but have you shopped around?

class2ldn

Yeah well we had an issue on our survey with structural movement which the surveyor said was settlement as it's only 20 years old and we've had a builder friend round to assess it and he said it looks like an !!! covering by the surveyor but the insurers don't like the words movement. That ruled out a lot of one's on go compare etc as they classed it as subsidence.
Direct line have said it's not a problem as it's long standing and non progressive + they insure the property now.
Been very helpful so far with advice etc and the price seems quite good.