Are you thinking of buying a brand new house? If so, there's home insurance available specifically for new build properties.
What to look for before you start:
1. Is your builder NHBC registered? Ask to see their registration number as it’s essential that your new home is covered by the 10-year National House-Building Council (NHBC) Buildmark guarantee. It ensures protection from damage or building defects (which could prove very expensive to rectify later on) and should be provided as part of the sale of your new home. It may also be required to secure a mortgage. The NHBC guarantee doesn’t cover wear and tear, condensation or gradual shrinkage to your new home, nor are you protected if you neglect or fail to maintain the property.
2. Is your home secure? Have you installed burglar alarms, security lighting, adequate boundary fencing, gates or shrubbery? Being vigilant from the beginning (especially if the estate is still a building site!) could pay off with lower premiums.
3. Be aware of common problems that occur with many newly-built homes. You might experience cracking to walls and ceilings or there may be issues with the quality of the interior finish. Make a ‘snag list’ when you inspect the property and before you move in and ask the builder to fix anything untoward.
4. If you’re buying ‘off-plan’, be prepared in case your home isn’t completed by the date the builder specified. If you’ve given notice on a rented property, make sure you have a contingency plan, or look for a policy that covers you for alternative accommodation should your completion date be delayed.
Generally, there is less risk associated with new build properties so you should benefit from lower premiums.
Read our home insurance articles and guides for more great topics or get a home insurance quote.