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To ask how you insure a new build that is being built?

3 replies

FurForksSake · 21/05/2019 14:14

As part of our mortgage we are required to obtain sufficient building insurance, but our house is a new build and is in the process of being built and no one seems to cover that.

Anyone, how the hell do I do this or find this????

OP posts:
Fatbutt · 21/05/2019 14:29

Are you building it yourselves?

sugarbum · 21/05/2019 14:36

You need to obtain the insurance from the date of completion. Because you don't own it without completing so its not yours to insure. At least thats what I was told.
We had a crossover between leaving our last home and obtaining our new build home. I just rang up the insurance company and told them what was going on. I can't remember which way around they did it, but I think they transferred the existing policy to the new house, and then did me a short term policy for the old one. Our house wasn't yet built when I took out the insurance (but it was on completion - just) I therefore had the policy saying the new home was insured from a certain date. (our completion date)

Singlebutmarried · 21/05/2019 14:38

You get some quotes (usually your mortgage adviser can do this) agree a policy, you then put this ‘on risk’ at exchange (you will typically know completion date by then)

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