New build home insurance

House being built with workers on roof

If you’re considering buying a brand-new house that’s just been built or if you’re planning on building your own home from scratch, you may need new build or self-build home insurance.

Home insurance is incredibly important regardless of whether you’re moving into a new build house or not, but if you are about to build your own home or you’re moving into a newly built home, you’ll likely have a few questions about how it all works.

In our guide below, we discuss everything you need to know about when to get building insurance when buying a house and the types of home insurance policies you can get for a new build home.

What is new home insurance?

New build home insurance is a specific type of home insurance policy that offers protection while the house is being built. It usually also covers homes that have been built within the last two years but haven’t been lived in yet

There is usually a lower risk of claims with new build home insurance as there is less room for things to go wrong, as opposed to an older property that might have become very worn and damaged.

New build home insurance is similar to a standard house insurance policy, but it specifically covers things like building materials and supplies, dwellings and structures and machinery and equipment.

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Do you need home insurance for a new build?

While it’s not a legal requirement to have home insurance for a new build house, it is usually strongly advised so that your new home is protected in the event that something goes wrong and you need to make a claim.

For example, if any equipment or building materials were stolen from the construction site where your new home is being built or if there is severe flooding and the building’s foundations collapse, you would be able to make a claim on your new build home insurance policy so that you don’t lose a lot of money having to pay for repairs and replacements out of your own pocket.

Why get new build home insurance?

Along with being able to pay for the cost of replacements and repairs if you have new build home insurance, there are several other reasons why you might want to take out insurance for a new build.

  • Depending on the type of policy you get, you will most likely be covered for the full value of rebuilding your new property in the event that it is irreparably damaged. It’s important to take out a specific building insurance policy for a new home so that you’re covered for the rebuild cost of the actual structure of your home (such as the roof, walls, floors and ceilings) if there is severe damage and everything needs replacing.
  • Your initial investment will usually be protected if you take out new build buildings insurance as you will be able to make a claim in the event that your new home is damaged by things such as gas explosions, storm damage, floods, fires, fallen trees and more.
  • Many new build homes are protected under the National House Building Council (NHBC) Buildmark warranty which covers structural damage to your home that has occurred within the last 3-10 years. However, there are some things that the Buildmark warranty doesn’t cover, such as fire and floods, so a new build home insurance policy will be able to offer you that extra level of protection under those circumstances.

How much does new build home insurance cost?

Similarly to a standard home insurance policy, the cost of a new build house insurance policy depends on multiple factors, with the most important consideration being how much it would cost to rebuild the property if it was completely damaged.

When taking out home insurance for a new build house, you will need to work out costs such as labour, building materials and equipment and other assorted costs associated with the overall value of the property.

When taking out contents insurance, you will need to provide the insurer with an accurate estimation of how much all your possessions are worth so that you can be sure they’ll be covered in the event that you need to make a claim. Of course, it’s not likely that you’ll be able to make an entirely accurate estimate of how much all your belongings are worth, but it is important to try and be as accurate as possible so that you can ensure you’ll be covered if you need to make a claim.

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When should I insure my new build home?

It’s a good idea to buy new build home insurance as soon as you start building the property so that you’re covered every step of the way.

Once construction has begun on your new home, you should take out a home insurance policy to protect your new house in the event that any building materials or equipment are stolen, or if the foundations are damaged and you need to start all over again.

Depending on how exactly you’re building your new home, if you’re using a contractor, for example, they may have their own insurance policy to cover their side of the work, but you should still consider taking out a policy as their policy will only cover their own business, not your home.

What type of new house insurance do I need?

Just like with any type of home insurance policy, there are two main types of home insurance you can take out for a new build property; buildings insurance and contents insurance.

Buildings insurance for new builds

Buildings insurance offers a comprehensive policy that covers the structure of your home, such as the ceilings, floors, windows, roof, walls and more

Contents insurance for new builds

A contents insurance policy, on the other hand, doesn’t offer cover for the actual structure of the building, it offers protection in the event that you need to make a claim for your possessions inside your home if they are damaged.

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If you're building your own home or buying new, we highly recommend comparing providers to save money on your policy.

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