Confirm your new home is insured from settlement day

Don't let there be a gap between settlement and your new home actually being covered -- this is one of the few moving tasks with real financial risk if missed.

How to do it

1. Arrange cover to start on settlement day, not "sometime after we move in."
2. Compare providers rather than defaulting to the seller's current insurer -- pricing varies significantly by provider and by the specific risk profile of the property.
3. Confirm with your conveyancer or lawyer whether they need proof of cover before settlement, and confirm exactly when risk and cover apply -- requirements vary by conveyancer and by the specific sale.
4. Check what's covered during the settlement period itself, especially if you're moving belongings in before settlement is fully complete.

Common mistakes

• Leaving insurance until after settlement "because there's no rush"
• Not confirming the policy actually started before handing over the keys
• Under-insuring based on the purchase price rather than actual rebuild cost

Related tasks

Pairs with arranging final meter readings with your lawyer or conveyancer as part of the same settlement process.

Useful links

• How much to rebuild your home? (Sorted) -- independent guidance on setting a sum insured that actually covers a full rebuild, not just the purchase price.