Buildings insurance - how does it work?

[BoBoo]

It's a requirement of the mortgate that we get buildings insurace. But surely we can't to this until we've bought the house? Do then just expect you to get it in the future and if you don't your in breach of the mortgage terms?

You are often required to take it out when you exchange contracts. Many lenders will want to see an insurance certificate before exchanging (or get your solicitor to confirm that you have one).

Oh, okay. I assume it's pretty quick to get then? I've had a look at some quotes, so hopefully can get it organised pretty quickly. Do you take it out from the exhange date or the date you think you're going to complete by? So many things I have never had to think about before...

Takes a phone call (am assuming this is for a house not a flat - if flat, the freeholder or equivalent should have insurance already in place).

Yes, it's a house. Great - thanks lala.

You should have your insurance in place when you exchange contracts. Most companies can do it instantly but it's worth shopping around to find the best deal.