Buildings Insurance Question

ginquinn

Hiya

My other half and I are first time buyers and need to sort out Buildings Insurance for our purchase. I've been having a look at the information on the site here about it but have noticed that we need to supply lots of info about the property that is not included in the home buyers report.

Just wondering if we should ask our solicitor for this info or the estate agent to request it from the vendor?

Any advice would be appreciated. Thanks and merry xmas

elverson

Are you buying a freehold or leasehold property?

ginquinn

Freehold thanks

elverson

In that case you'll need to sort your own policy (assuming it's required by your mortgage lender?) and it needs to be in place from the point when you exchange:

http://hoa.org.uk/advice/guides-for-homeowners/i-am-managing-2/how-should-i-insure-my-home/

eddddy

What sort of information are you referring to?

AnotherJoe

Apart from when was it built, if you don't know how many bedrooms, whether it's built of brick or wood, and is terraced semi or detached, perhaps you should go back and check it out again

eddddy

It may be questions about British Standard 5 lever deadlocks on external doors, patio door locks, key operated locks on ground floor windows, working smoke alarms etc that the OP is concerned about.

ginquinn

Hiya yes it is the info about the locks on things that initially made me realise we didn't have that info...

We do know what the house is made of - thankfully

davidmcn

I would just go for the "safe" answers about locks etc, not sure how much difference it makes to quotes (though you can always play around with the answers to check!).

Rodders53

You can often declare no locks etc.,. when obtaining quotes and insurance.

I certainly have done so for our new home... no alarm either (although we have one). Having locks (you must use every time you go out) and an alarm (you must set and have maintained) would have saved us 10% on a £300 value insurance (buildings and contents including accidental).

Some insurance companies insist on certain minimum standards for locks before they will quote (I avoid those)... But some location postcodes can have most insurers requiring a quite stringent minimum standard for locks etc.,. due to the higher risk of burglary.

Probably quicker to ask Vendor via the Estate Agent for details if you can't afford to have 'none' as answer to the security questions to get sensible quotes.

eddddy

Unless the property is in a high risk area (or you have made previous claims), the type of locks etc may not make a difference to the premium.

As others suggest, try different answers to the questions when doing online quotes, to see the impact on premiums.


But some people suggest that insurance companies see playing with online quotes like this is an indication that you are trying to commit fraud (i.e. looking for whichever 'untue' answers give the lowest quote.)

So there are suggestions that you should get 'dummy' quotes using a 'dummy' name, and an address near to the property, rather than the exact address of the property.