Buying a Shared Ownership Property – Insurance

moving house, our new living room, insurance

Insurance for insurance, and more insurance for that insurance. Oh, and by the way, would you like to write your will? That’s what this last month has felt like. 

Insurance is one of those things which is making me SO cross right now. There are so many things which need insuring; things we’ve never had to think about before. 

The plus side is by buying a Shared Ownership property the housing association takes care of the buildings insurance. Though as I’ve found out, if a tile falls off your new build roof, you can spend anything up to two days wondering when someone is going to let you know what’s going on. It’s slightly better than renting. 

The down side is the things you have to insure. We changed address on our contents insurance and were charged an additional £20 fee. I’d love to know how they can justify that charge – surely it’s just pressing a button?

Then again when we rented we’d be charged a £50 annual fee for paperwork. The letting agents occasionally remembered to send us a copy once we had signed it too.

We’ve got car insurance covered. Well, apart from the fact that our policy we had went up way too high, so we re-did it via Compare the Market and got a price similar to the one we originally did. There’s no logic there… at all. 

We have life cover dating back to 2003 which was a jolly sensible thing to do. The majority of our cover costs us next to nothing each month, whereas to top it up to our mortgage amount costs us almost double the original amount. Because it’s through the same company we get a small monthly discount too which is handy. 

I’m thinking ahead. While I feel like my job is safe, who knows what is going to happen after Brexit. So I need to make sure our mortgage payments are covered – so there’s another type of insurance that looks after that. 

Our solicitor cheekily mentioned us making a will. I’ve seen that Macmillan are offering free wills for the month of August, so if we can get our act together quickly enough, hopefully we can do it, otherwise I’ll be on the lookout for the next time we can. 

Can I have a month off all this grown up stuff please? 

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.