Home Is Policy void now?

Technically speaking you can't insure something you don't own. So there is no insurable interest and therefore no cover. But people do it all the time, because the bank need their indemnity letters before they let you draw down and insurers take time to issue these.

In the end of the day its not like you will be making a claim prior to owning it!
 
Thanks. I just called insurance co and they said that policy had to be active in order to draw down.
 
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