Living
5 min read
With the property market in Northern Ireland reaching a peak since the pandemic, you may have been in a position where you have recently purchased, or are in the process of securing a new build house.
Whether you are a first time buyer or transitioning into your dream home, it is an exciting time to move into a new development where everything is brand new.
But don’t forget about one of the most important things: home insurance on your new build house.
As a homeowner, it is important to consider all expenses associated with a new property.
Of course, like their older, second-hand counterparts, new build homes still require a deposit. But potential site fees and those extras like insurances need to be factored in as well.
You may be already asking yourself is home insurance an essential cost when buying a new build home?
Most new build properties will come with a level of warranty that covers them for up to 10 years should any major defects occur. As there can be common issues that may arise with newly built homes, such as condensation and settlements in the brickwork, taking out a dedicated home insurance policy will put your mind at ease.
Home Insurance for a new build home is not a legal requirement, although it is highly beneficial should any damages happen to your new house.
In addition, if you are getting a mortgage of any level your lender may require you to have a minimum of Buildings or Contents Insurance.
Buying a new home is one of life’s biggest financial investments.
Even if you’re lucky enough to never need to claim on your policy, having home insurance on your new build will put your mind at ease.
The warranty on a new build typically only covers the structural integrity of your new build and not always the fixtures and fittings.
Home Insurance on your new build can cover the replacement or repair of damages to the home or its contents should it be damaged by for example flood, fire or in the event of theft.
In addition, policies can be customised to suit your needs. At AbbeyAutoline we work with a large number of insurers, so we are able to tailor policies and the level of coverage you may require.
The level of cover you need will vary and depends on your individual needs and how much reassurance you would like.
Mortgage lenders may ask for a minimum, in this instance it is best to ask them for clarification.
For more information, have a read of this handy guide which answers all your common FAQs on home insurance.
Our expert team of insurance brokers will search the market to get you a great deal on your home insurance. Call us on 08000 66 55 44 or get a quote online.
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