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Contents and building insurance. Moving house.

4 replies

Thingsthatgo · 08/02/2021 22:29

Hi, we are hopefully moving in the next month or so. Our buildings and contents insurance will be due for renewal at almost exactly the same time as we hope to move. What is the best thing to do? Renew our insurance on our current home anyway, Then cancel it once we moved?
Our new home will be more expensive to insure, so presumably we will want to get a new set of quotes.

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Defiantly41 · 08/02/2021 22:38

Renew and then change the address, otherwise any change fee you pay for early cancellation will likely swallow up any saving.

You should insure the building of your new house from exchange, it's ok to have both buildings on the policy between exchange and completion (otherwise if it suffers serious damage after exchange you will be legally bound to complete but the vendor may not have adequate insurance). Also your contents policy is likely to provide at least some cover for goods in transit,

jaundicedoutlook · 08/02/2021 22:59

You will need building insurance on the new house from the point of exchange, and you will need to retain it on your existing house until completion.

dinglethedragon · 08/02/2021 23:11

my insurer added the property I was buying to my existing policy on exchange then removed the old property on completion.

last year I looked up the WHICH reports on home insurance and went with NFU mutual, rather than chasing round for better deals. You want insurance that you are confident covers all your needs - and will pay out.

Thingsthatgo · 09/02/2021 20:48

Fantastic! Thank you all for your advice. Seems very straightforward Smile

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