House insurance fire only until tenants move in

deeobrien

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I have bought a new property and will be moving into that as my PPR and renting out my current house. I've been on to my house insurance provider and they say the policy for the new house will be 'Fire Only' (they have marked this as an exclusion on the policy) until I move in. Likewise my current property will then have to switch to 'Fire Only' until tenants move in.

Is that normal?

The bank for the new mortgage have queried the fire only part as they were worried about water cover. I've told them what the insurance company told me so hopefully that will satisfy them.
 
The title of the form BOI need borrowers to complete is "Notice of Interest or Cessation of Interest in fire policy" . The bank basically require you to have a policy in place that will pay out to the amount of the rebuild cost if the place goes up in flames.
 
Unfortunately the bank have come back and said they won't release the funds until 'full cover' is in place. I'm clarifying what 'full cover' is. They don't accept the FIRE only cover.
 
You'll be able to get full cover on condition you move in within 30 days. Call a broker. This is standard enough when buying.
 
I don't really understand insurance companies on this. Most people homes will be empty a lot of the time normally, if working or if on holidays, travelling for work.

So I can't see why a house thats empty for a short time, or a house that only occupied a few days a week can't be fully insured.
 
Try Allianz, I find them great. They may give u holiday home ins for the month, otherwise tell bank you will have all water tanks emptied and water turned off at the mains until you move in.
 
So after a few days of looking in to it the bank accepted the insurance cover for the new mortgage. Now just have to ring the insurance company when I move. They have told me that the existing house will go to 'fire only' until tenants move in. Given that normally you can have a house unoccupied for 30 days (as is the case in my current policy) I struggle to understand why. Especially as I will over and back to the house getting it ready for tenants.

Anyway at least I got past the hurdle of getting the mortgage issued for the new house purchase.
 
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