Insuring a property you don't own yet?

Parisien

In between paying a deposit and completing we have various contractors in quoting and doing basic checks etc. If they proceed with some aspects of the works required before the completion date can we get standard house/buildings insurance in case of anything untoward happening to them or their workforce or the property, all advice appreciated


P

BigAl94

Go and talk to a broker explaining the circumstances to ensure the correct cover. You do need insurance from the point of paying the deposit and being under contract.

tara747

Parisien wrote: »

In between paying a deposit and completing we have various contractors in quoting and doing basic checks etc. If they proceed with some aspects of the works required before the completion date can we get standard house/buildings insurance in case of anything untoward happening to them or their workforce or the property, all advice appreciated


P

How do the vendors feel about you doing work to their house before completion??

saverbuyer

You'll obviously be able to get building insurance between exchange and completion but carrying out work on a house you don't yet own is a bit iffy to say the least. You don't own the property.

Mistral001

Yes why are you getting work done on a property you do not own? I would stop and think and contact your solicitor immediately. As well as the builder, acting upon your instructions, doing damage to the property, the vendor could pull out of the deal - believe me it has happened before.