Do the homework before the exchange date is fixed
You do not need to buy insurance when you first view the house. It does help to collect the details while the survey and legal work are under way. Insurers are likely to ask about the walls and roof, number of rooms, rebuilding cost, security, previous flooding or movement, and whether the property will be empty.
Run an early comparison if you want to see whether the house is straightforward to insure. Treat the price as provisional until you know the exact start date and property details. Quotations usually have an expiry date, and a change to an answer can alter the terms.
If every online form refuses the property, speak to a broker. That is more useful than changing an answer until a price appears.
Why buyers are often covered from exchange
Once contracts are exchanged in England and Wales, the sale is normally binding. Under many standard contracts, the buyer takes on the risk in the building at that point. You may not have the keys, yet you could still have a financial interest in what happens to the property.
Your own conveyancer must confirm the position. Auctions, new-build purchases and specially amended contracts can follow different arrangements. If exchange and completion are planned for the same day, ask whether cover should begin that morning.
Make the policy start date clear when you buy. Some quote systems default to today's date, while others let you choose a date ahead. Check the schedule as soon as it arrives.
Flats and purchases elsewhere in the UK
A flat is often insured under one policy for the whole building. The freeholder or management company arranges it and collects the cost through the service charge. Your solicitor should obtain the policy information and tell you whether it meets the lender's needs. You will usually make your own decision about contents cover.
Scotland and Northern Ireland have different property-buying systems. In Scotland, the binding agreement is normally reached when missives are concluded. Ask the solicitor dealing with your purchase for the exact date on which you become responsible and need insurance.
Use facts from the paperwork
The survey, Energy Performance Certificate and sales particulars should answer many of the questions on a quote form. Your conveyancer may have information about previous claims, building work and the title. If the house is listed, has an unusual roof or has suffered subsidence, allow more time.
Rebuilding cost is not the sale price. It is an estimate of the cost of rebuilding after a major loss, including demolition and professional fees. Some policies use a broad standard limit. Others ask you to enter a figure, in which case a surveyor's estimate or the recognised rebuilding-cost calculator can help.
Tell the insurer if the home will be empty between exchange and moving in. Even a short empty period can bring conditions about heating, water and inspections.
Read more than the premium
Have a look at the general excess and any separate excess for water leaks, flooding or subsidence. Check alternative accommodation, trace-and-access cover and the limits for valuables, bicycles and belongings away from home. Accidental damage and home emergency help may be optional.
An inexpensive policy can be perfectly suitable, but only if the cover matches what you need. Read the policy summary and the main exclusions before paying. If a question is unclear, ask the insurer or broker how it should be answered.
Keep a record
Save the answers you gave, the policy schedule and the important policy documents. If the completion date, occupancy or planned building work changes, tell the insurer. It is much easier to correct the details at the time than argue about them after a claim.
If you are also selling, ask when the old policy should end. Cancelling it on exchange may be too early if you remain responsible for that property until completion.