Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

What do l do about property insurance with imminent house move?

3 replies

EL8888 · 09/05/2020 18:36

We own a property which we are going to rent out and buy a house to live in. Obviously due to COVID-19 then nothing has happened with the sale for the past couple of months. Consequently the contents insurance on the flat is running out soon. Normally l would just go for it, get quotes and buy new insurance. Problem is new property requires contents and building insurance -current property has building built into yearly management fee. So should l get contents insurance and cancel it when we move or get contents insurance then try to get them to convert it to contents and building insurance. For more money obviously

Very boring question l know but l just want to establish which is the easiest and cheapest option

OP posts:
mencken · 10/05/2020 10:51

renew the insurance on the flat for now. When it is rented, you won't be 'converting' standard insurance; you need a proper landlord policy with cover for landlord contents, legal expenses, rent guarantee and malicious damage.

mencken · 10/05/2020 10:52

oh, and you'll want buildings and basic contents on the new place from the moment you exchange, and that's the one you change to full contents when you complete.

EL8888 · 10/05/2020 11:26

But we will be converting the contents to contents and building at the new place. I regard the landlords insurance as a separate thing entirely. Exchange and completion are probably going to happen very close together

OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread