B
bee2010
Guest
At what stage of new build should I insure house? I have self build policy that covers in case of accident on site etc... but no house insurance on new house. I thought house couldnt be fully insured until lived in?? I have 2nd old cottage on site that Im currently living in but will be knocked when new house is completed - can I just transfer that insurance??
Also bank has already queried amount old cottage is insured for ie not full amount of mortgage but we needed to have same valued prior to policy being issued & old cottage is in a bad way so worth very little - nothing near how much we are borrowing for new build. Have spoken to my bank & insurance company both advised need to take out 2nd policy for full amount of mortgage - even though I hope not to borrow all we were approved for?? Any help greatly appreciated as bank & insurance company seem to have no idea about self builds....
Also bank has already queried amount old cottage is insured for ie not full amount of mortgage but we needed to have same valued prior to policy being issued & old cottage is in a bad way so worth very little - nothing near how much we are borrowing for new build. Have spoken to my bank & insurance company both advised need to take out 2nd policy for full amount of mortgage - even though I hope not to borrow all we were approved for?? Any help greatly appreciated as bank & insurance company seem to have no idea about self builds....