Do I as a buyer need to insure my home from the date of exchange? Isn't the vendor's insurance enough?
Total Comments: 4
Posted: Wed Sep 01, 2010 07:42 am Post Subject:
Go through your contract papers. Your papers should mention whether the buyer should cover it since exchange. The insurance coverage will depend on the lease in case you have a leasehold unit.
Posted: Fri Sep 03, 2010 07:22 am Post Subject:
I couldn't achieve a good coverage deal for our new home with the content insurer that we currently have. Thereafter I decided to settle it over the phone. We were told that they don't have our details in their records. So we tried to buy it online again and we succeeded. But to our dismay they haven't set the policy yet!
All they have to say is that they don't have any records of the deal.
Posted: Sat Sep 04, 2010 12:23 pm Post Subject:
Do you know any insurance broker in your area? I guess they'd try to get you covered asap and then pass on your proof to the lender. You may also take your survey report.
Posted: Mon Sep 06, 2010 05:36 am Post Subject:
I don't think we could insure property that belongs to someone else. I'd often wonder how we could cover a property in between completion and exchange!
I don't really see any risks coming my way if the seller has property insurance.
Posted: Wed Sep 01, 2010 07:42 am Post Subject:
Go through your contract papers. Your papers should mention whether the buyer should cover it since exchange. The insurance coverage will depend on the lease in case you have a leasehold unit.
Posted: Fri Sep 03, 2010 07:22 am Post Subject:
I couldn't achieve a good coverage deal for our new home with the content insurer that we currently have. Thereafter I decided to settle it over the phone. We were told that they don't have our details in their records. So we tried to buy it online again and we succeeded. But to our dismay they haven't set the policy yet!
All they have to say is that they don't have any records of the deal.
Posted: Sat Sep 04, 2010 12:23 pm Post Subject:
Do you know any insurance broker in your area? I guess they'd try to get you covered asap and then pass on your proof to the lender. You may also take your survey report.
Posted: Mon Sep 06, 2010 05:36 am Post Subject:
I don't think we could insure property that belongs to someone else. I'd often wonder how we could cover a property in between completion and exchange!
I don't really see any risks coming my way if the seller has property insurance.
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