Home Buyers Insurance

We ve prepared a quick easy to read guide for the home insurance part of your exciting journey.

Home buyers insurance. Landlords home buyers protection insurance. Buying a home for the first time can be very confusing. The average claim amount in 2019 was 465 for those who took out homebuyer protection insurance with homeowners alliance and needed to make a claim. Most home buyers protection insurance policies will provide cover for a house purchase falling through for any of the following reasons.

Buyers have more confidence in buying a resale home. After putting in an offer paying various costs and getting excited about the sale going ahead it can be devastating to suddenly have the deal fall through. You ll need to research into saving for a house how much deposit to pay first time buyer mortgages moving house checklists stamp duty and much more. Home buyers protection insurance is designed to provide better peace of mind when buying property.

Buyers have peace of mind and protection against costly home repairs. Real estate professionals report more satisfied clients and less liability for all parties. Our home buyers protection insurance provides cover for conveyancing mortgage and survey fees incurred by an insured purchaser when their purchase of a property falls through. With buying to let being more expensive than purchasing to occupy it is even more of a reason for a buyer to take out.

The seller decides to take the property off the market your offer is gazumped by another buyer. For example your claim would be rejected if you bought cover after being gazumped. Home buyers insurance with cover for your property s buyers a towergate policy will also stretch to cover the people buying your home if you re in a chain. Although it might not be the main thing on your mind you ll want to have cover to protect your new home when you exchange contracts and to give you peace of mind if things don t go according to plan.

The policy will also only pay out for events which are outside your control known as insured events. Home insurance should be on your home buying checklist. Home buyers protection insurance will not cover expenses incurred before the policy was in place known as retrospective claims. Our policy provides home buyers protection for landlords too so if you are looking to buy a property to let you still have the same security as buyers making a residential purchase.