What to do about buildings insurance when moving house?

[Thumbcat]

We're hoping to exchange contracts at the end of next week and our solicitor needs confirmation of buildings insurance. What do people normally do about this? Do we ask our existing insurer to transfer cover on, say, 30 November and email us something to this effect that we can send to the solicitor. I suppose we could then change the date if things are delayed? Obviously we'd need to make sure our current house is still covered until we move. I don't seem to be able to get a clear answer from anyone about the best way to go about this.

[FlowerOfTheValley]

I had to email my Solicitor a copy of the actual cover note when I bought my house. I had communal buildings insurance on my flat so transferring wasn't relevant for me so I can't comment on that aspect.

It might be a case of taking out a new policy and cancelling the old one when the sale goes through. Probably easiest to speak to your insurance company but assuming you have a mortgage you will need buildings insurance in place to take affect from the day the sale goes through.

[GrockleBocs]

If I remember correctly you can get your existing insurer to cover both. It will cost obviously.

[fizzicles]

Just call your current insurers. You will need to insure the new house from exchange (at least we had to when we moved last month) and then they will transfer it fully on completion.

[Itsokaytobeshy]

I suggest you see an independent broker. You need to ensure you have both properties covered Your current insurer may not be the cheapest for your new house as, unlike car insurance, where you are the biggest factor in determining the price (compare premiums for a 17 year old to a 40 year old!) with house insurance it is the property which affects the premium not you. This means it's not always the most cost effective to let the policy run until renewal with the existing insurer - it sounds counter intuitive but you might save money by cancelling one policy mid term (on completion) and setting up a second policy with a different insurer on the new property (at exchange).

[specialsubject]

Keep old policy.
Get new one for new place to start from exchange. Get quotes ready, pick one, be ready to phone to start it on exchange.
At completion, cancel policy on old house.

Costs. That's house moving!

[Thumbcat]

Thanks everyone. I think we'll do what specialsubject suggests.

[Lonecatwithkitten]

I would phone your current insurer mine extended cover to the new property free of charge.

[Allthebestnamesareused]

Our current insurer covered us free of charge for the period between exchange and completion and indeed the premium went down when we had moved because it was a "safer" bet!