28/03/2022
🏡 The Joseph Homes Guide to Buying a New Build Home ✨
Step 8️⃣ - Insurance
While your solicitor is handling the conveyancing, you may need to arrange insurance for your new property.
Buildings insurance covers the structure of your home against fire, floods or accidental damage. Mortgage providers usually want to see that you’ve arranged buildings insurance from the date of legal completion. If you’re buying an apartment, then buildings insurance may be included in your service charge.
Contents insurance covers the contents of your home in case of accidental damage or fire, floods, and theft. Mortgage providers don’t usually require you to have this, but it’s in your best interest to have it anyway.
You may also want to consider getting some form of personal insurance such as life insurance, income protection, or mortgage payment protection. These will provide some support and reassurance if your circumstances change and you’re unable to work or pay your mortgage.
Download our full guide here 👉 http://ow.ly/AaIT50HJtmP