You are almost there with the purchase of your first home, but it’s time to start thinking ahead and in particular organising home insurance for your new property, prior to exchange of contracts.

At what point do you become responsible for insuring your new property?

When you are in the process of buying a house you are responsible for insuring the property at point of exchange. It is YOUR liability if anything happens to the property between exchange and completion.

Your mortgage lender will want to see proof of insurance before the mortgage loan and funds are released to your Licensed Conveyancer or Property Solicitor. Your Mortgage Adviser will pass your insurance details to your Lender. Your will be advised that the insurance meets the requirements of your chosen lender.

Top Tip … If you are buying a property that is Leasehold – Check with your property conveyancer, as the buildings insurance is usually paid for by the management company or the freeholder of the property. If this is the case, you will only need contents insurance and this could save you a fair amount of money on your insurance premium

Where to look for Home Insurance Policies – Buildings and Contents Cover

The First Time Buyer has a good relationship with a few home insurance providers. We have listed a few of these providers below for you. Important .. Make sure you check what is included with a home insurance policy. Make sure you are comparing like for like and the policy has the cover YOU are looking for.

Protect your first home with John Lewis Home Insurance. A brand you can trust that provides a great range of buildings and contents insurance. Choose from Essential, Plus or Premier Cover to get the level of cover that suits your needs. John Lewis home Insurance
Get your property insured and covered with Aviva 5 Star Home Insurance. Prices from £135 per year with 5 star protection. Get an instant online quote direct from Aviva
M&S Bank Home Insurance could be the perfect fit for your home. Just as you have come to rely on M&S to deliver quality throughout your home, you can trust us to protect it too with our straightforward M&S Home Insurance. The option of Standard or Premier cover for your first home. A brand you can trust with a policy underwritten by AXA Insurance UK Plc. Save 20% when you buy online. M&S Home Insurance
Endsleigh Insurance offer great value buildings and contents insurance, combined with great customer service. Endsleigh will also cover your gadgets whilst away from your home. Get a quote direct from Endsleigh and save money on your home insurance. Endsleigh Home Insurance

Compare and save money on your home insurance

You can compare multiple home insurance policies and providers using a price comparison website. We have listed a few to get your started below.

confused-save-money-compare-energy-home-insurance is a price comparison website that you can use to save money on your home insurance (buildings and content insurance). Compare prices from over 74 insurance providers and save up to £264. Get a FREE Brian toy when you buy home insurance through - Compare and save on home insurance

Using you can compare and save on your home insurance. Compare quotes from over 75 insurance providers for your building and contents insurance. Save time and money using - Save time and money an get home insurance online



Previous post

Organise your RICS Homebuyer Property Survey

Next post

Energy - Gas and Electricity for your new home