Two in Five Homeowners Unaware of Need for Buildings Insurance at Exchange
Thousands (2) of British home buyers could be putting their dream home at risk during the crucial final stage of home buying, according to new research from LV=, one of the largest
Even those who are more clued up on the process let researching their home insurance options fall to the bottom of the list. More than a quarter (27%) of homeowners didn't spend any time researching which buildings insurance would be best for them, meaning they might not have had the right cover in place.
Building insurance covers the cost of rebuilding your home if it's damaged or destroyed and it must be in place from point of exchange to ensure the buyer is covered should something happen to the home (3).
Regionally,
For the period between exchange and completion, LV='s Home Buildings insurance covers both the customer's home which is being sold as well as the new home being purchased by the customer; therefore ensuring there is no gap in cover for either property. LV= is offering customers 25% off when they apply online for home insurance. For more information visit https://www.lv.com/home-insurance.
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