House insurance after Exchange but before Completions

DullGreyGuy

RHemmings said:

I think I may have made an error when I bought. I just bought normal house insurance on the day of exchange. I wasn't aware of needing anything specialist.

Fortunately nothing happened to the house in the three days (weekend) between exchange and completion. 

All depends if you are buying your first property or not, if you're moving between properties you'll own then your likely to already have buildings insurance on the property you're selling so have more choices. 

In most cases normal home insurance is perfectly fine at the point of exchange, problems come if the property has been vacant for a while. Many home policies continue to protect the buyer of your home when you sell if they dont have their own insurance but it there where there is normally a cap of say 30 days, though Post Office gives 60 days

RHemmings

DullGreyGuy said:

RHemmings said:

I think I may have made an error when I bought. I just bought normal house insurance on the day of exchange. I wasn't aware of needing anything specialist.

Fortunately nothing happened to the house in the three days (weekend) between exchange and completion. 

All depends if you are buying your first property or not, if you're moving between properties you'll own then your likely to already have buildings insurance on the property you're selling so have more choices. 

In most cases normal home insurance is perfectly fine at the point of exchange, problems come if the property has been vacant for a while. Many home policies continue to protect the buyer of your home when you sell if they dont have their own insurance but it there where there is normally a cap of say 30 days, though Post Office gives 60 days

The house I bought (which I'm in now) had been vacant for a long time. It may be the case that I wasn't actually covered over those three days. in any case, nothing happened.