At what point should you get insurance/s sorted before completion on a home?

Dannydee333

I am in the early stages home-buying process and have been doing a search for insurance on the comparison sites. Something has suddenly stopped me in my tracks.

When entering details for life insurance, it asks for my address. However, I'm obviously taking out this insurance to ensure the safety of my home if I die and wot not. So, do I enter the new address, or my current one? Will it matter?

I don't have a completion date, in fact, I might be a fair bit away from that, but can you take out insurance for your new home in advance of completing the home? And, should I enter the new address to get my quotes?

dunstonh

At what point should you get insurance/s sorted before completion on a home?

From exchange of contracts.

When entering details for life insurance, it asks for my address. However, I'm obviously taking out this insurance to ensure the safety of my home if I die and wot not. So, do I enter the new address, or my current one? Will it matter?

New address for insured address
existing address for correspondence and update when you have moved in.

Dannydee333

From exchange of contracts.

New address for insured address
existing address for correspondence and update when you have moved in.

Thanku...So yeah, it makes sense not to take it out before exchanges, but, follow-up question:

It would be useful to get quotes before the exchange to send to the lender to strengthen my lendability, right?

user1977

What do you mean by “strengthen your lendability”? Has anybody asked to see these quotes?

For your own purposes, yes of course it makes sense for you to shop around and know what the costs will be.

Dannydee333

user1977 said:

What do you mean by “strengthen your lendability”? Has anybody asked to see these quotes?

For your own purposes, yes of course it makes sense for you to shop around and know what the costs will be.

The broker who was helping me with quotes was telling me if you're getting these things, they need to be done before completion. The lender has not asked, but I will definitely be getting life and income protection insurance, probably contents too (buildings is covered in the management fee).

However, I see no urgency to have any of these things done by completion. I know I don't even have to have them at all. I will, however, get them myself. I can get better prices on the comparison sites anyway.