When to get house insurance?

[TN_]

So i brought my first property. Was advice by the agent to take out house insurance asap. settlement is not till another 4 months away. when do i need to take out house insurance? who did you guys go with for the cheapest and effective policy? my shopping around has led me to SGIC as being the cheapest per year.

 

[luckyone]

A lot of states require that ou have insurance from when you exchange, otherwise you're not covered. Best to find out from your solicitor what to do.

 

[Aaron_C]

It is part of any lender's terms and conditions that you obtain building insurance for the property before you settle the property.

 

[gm12]

I was adviced by my soliciter to take it asap. Apparently the period between sale and settlement is a grey area. I am in vic.

I went with gio. Aami was cheapest but not by much

 

[chilliblue]

Covernote from exchange.