Insurance for a House

Joeread

Hi

I am in the process of buying a house with my girlfriend and I was just wondering when the best time is to get contents and Buildings insurance as i don't think its a good idea to do it on the day of moving as we will have so much going on?

Thank You

eddddy

Normally, you require Buildings Insurance from the date that you exchange contracts.

You would probably get your quotes in advance, then just call the insurer on the day of exchange.

You don't really need contents insurance until you move in (with your belongings), but it's probably easier to have a combined buildings and contents policy (so contents cover would also start on the day of exchange.)

jonnygee2

Not so long ago someone posted on this board because the house they had just exchanged on, but not yet completed on, had burnt down.

Moral of the story, start your buildings insurance from the day of exchange.

phill99

Edddy above is right.


Once you have exchanged you are duty bound to complete the purchase, even if the house burns down to the ground. therefore you MUST have Buildings insurance from the day of exchange. Your solicitor will advise you of this. I am pretty sure that it is a requirement of your mortgage company too as their interest in your property must be protected.


In terms of contents, discuss this with your current insurers and you will probably find the policy can be ported to another property. Also check if it covers goods in transit.