Settlement insurance â€“ is it on your checklist?
Although most people have insurance on their home and contents when they sell, as a buyer you cannot rely on the same scenario.
Even though the vendor is obliged to handover the property in the same state and condition as at the date of sale and carries all risk related to the property until settlement, they are not obliged to take out or continue their insurance cover during this period.
It is highly recommended that you take out Home Settlement Insurance cover as soon as the Contract of Sale is signed. You then have the greatest range of options available if the property is damaged or destroyed prior to the scheduled settlement date.
What is home settlement insurance cover?
Home settlement cover gives you peace of mind between signing your purchase contract and when you take possession. It protects your new asset, the building you have just bought.**
How much will it cost me?
Through our specialist home services program, LJ Hooker Assist, we can offer new home buyers FREE Home Settlement Insurance Cover*. You can also then convert the policy to a Home and Contents offer after settlement as we will give you 14 months cover for the price of 12.
The LJ Hooker Assist team can help you get a quote within minutes. You can give us a call on 1300 875 974 (Mon – Fri: 9 to 5) or contact us anytime via email on email@example.com.
* Subject to underwriters terms and conditions and underwriting criteria
** If you have bought a strata apartment your new purchase should already be covered by the owner’s corporation insurance cover – check your strata report before purchase.