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What Insurance do I Need When Buying a House?

Dec 19, 2024
Home insurance guide
Whether you’re just getting on the property ladder or upsizing , home insurance is important to consider. If you’re unsure about what type you need, our handy guide can help. Learn more about the different types of insurance, what they cover, and other useful information.

The main types of home insurance

 
 
There are three types of new build home insurance: buildings, contents and life insurance. 
 

1. Buildings insurance

This covers structural damage to your property, including the roof, walls and floors. It also covers damage to permanent fixtures and fittings like kitchen units. It's not mandatory, but your mortgage lender usually requires it. 
 

2. Contents insurance

This protects you from loss or damage to personal possessions in the event of a fire, theft or flooding. It's optional.  
 

3. Life insurance

This covers you if you pass away before paying off the mortgage. This way, the lender can’t repossess the house. It’s also optional.
 

Do I need both buildings and contents insurance? 

 
You're not legally required to get home insurance. However, if you take out a mortgage to buy your home, your mortgage lender will require you to have buildings insurance. Exemptions include tenants, leasehold owners or owners of a share of the freehold.  
  

When should I buy home insurance? 

 
Your buildings insurance should start from the date you exchange contracts, as this is when you're legally bound to buy the property.   

 

What does the NHBC warranty & insurance policy cover?

Our new build David Wilson homes come with an NHBC warranty and insurance policy, known as Buildmark, which includes a 2 year builder warranty period, followed by an 8 year insurance cover.

 

Explore our brand-new developments across the UK, including 2, 3, 4 and 5 bedroom homes. Our homebuying offers could help you move sooner with less hassle.

Call or visit our Sales Advisers today to start your homebuying journey. 

 
 
 

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