Moving into a brand-new home is an exciting milestone. You get the keys, brand new, untouched, and ready for your first cuppa or that long-awaited sofa delivery.
But before you settle in, there's an important question to answer: Do you need home insurance for a new build? The short answer is yes - protecting your new property is essential, and the process comes with a few unique twists.
We’ll walk you through what constitutes a new build, when to obtain cover, and how to protect your property from day one.
What Counts as a New Build?
Figuring out what qualifies as a new build sets the foundation for getting appropriate coverage. Insurers follow specific definitions that directly impact your options.
Newly Constructed Properties
A "new build" generally refers to a property that is fresh from construction and has not been lived in before. This includes both developer-completed homes and self-build projects where you've overseen construction yourself.
From an insurer's perspective, new builds start with a clean slate - they lack the wear and tear common in older properties. This distinction matters when setting up Home Insurance for a new build, as certain policies feature benefits specifically designed for newer homes.
Difference from Renovated Homes
Heavily renovated or converted properties don't fall into the same category as completely new homes.
A property might be gutted and refurbished, but insurers typically won't classify it as a new build if it incorporates parts of the original structure. This classification affects everything from policy terms to pricing and discount eligibility.
If you're not sure where your property fits, check with your insurer before finalising any coverage.
When Does Home Insurance Become Necessary?
Getting the timing right for your insurance is just as critical as selecting the right policy. Here's when to start thinking about new build insurance to ensure continuous protection.
Cover During Construction
Standard home insurance doesn't apply to self-build projects until the property becomes complete and habitable.
Throughout construction, you'll need specialised protection, such as site insurance or self-build coverage. This type of new construction insurance guards against structural damage, material theft, and on-site accidents.
If you’re buying directly from a developer, the builder usually carries their own construction insurance until handover. Always double-check this before you exchange contracts.
Insuring at Handover
You'll need standard home insurance at a specific point - usually at completion, contract exchange, or when receiving the keys. From this moment forward, you bear responsibility for the property, regardless of whether you've moved in.
Home insurance requirements typically state that coverage must begin from the moment of legal ownership. Any delay could leave your new investment vulnerable to disasters, such as fire or storm damage, before you've even had a chance to unpack.
Mortgage Provider Requirements
Almost all mortgage providers want proof of building insurance before releasing funds. They need assurance that their investment has protection from day one.
Your lender might ask for policy details and sometimes establish minimum coverage amounts. Plan ahead by arranging your home insurance policy early to prevent any delays in your mortgage process.
What Risks Does Home Insurance Protect Against for New Builds?
New builds face their own set of risks, despite being newly constructed. Here's what your new home insurance should cover.
Structural Damage
Building insurance forms the core of any homeowners' insurance policy. It protects against major threats, including fires, floods, storm damage, and accidents that could compromise the structure of your new home.
Your policy even covers fire brigade charges, alternative accommodation if your home becomes uninhabitable, and trace and access costs for leak investigations. You also benefit from “new-for-old” replacement on permanent fixtures.
Even new homes hit bumps. Storms, leaks, or break-ins don’t care how new your walls are. This coverage ensures you won't face massive repair costs if something goes wrong.
Theft and Vandalism
Contents insurance proves equally important, particularly if you plan to store belongings in your property before moving in.
Empty houses often attract unwanted attention, so ensure your home insurance for a new build includes coverage for your personal belongings. Many policies for new properties offer benefits like new-for-old replacement for damaged possessions.
Public Liability
Often overlooked but essential, liability coverage matters even before you fully settle in.
Even brand-new homes can pose slip-and-fall or trip hazards for contractors, decorators, or delivery personnel. If someone gets injured on your property, public liability coverage helps with potential legal expenses or compensation claims.
House Insurance policies like the one offered by 123.ie include this protection, giving you peace of mind during those early days when various people might be coming and going.
Special Considerations for New Build Insurance
New homes introduce unique factors into the equation. Keep these considerations in mind when setting up insurance for new-build properties.
Warranty and Developer Guarantees
Most new builds in Ireland include a 10-year structural warranty, such as HomeBond or Premier Guarantee. These warranties address major construction-related defects, but they don't replace home insurance.
Consider the warranty as supplementary protection for structural issues, while Home Insurance from 123.ie takes care of everything else, from fire to burst pipes. Insurers typically ask about existing warranties during the application process.
Snagging and Defects
Finding minor issues (snags) after moving into a new build happens frequently. Your builder should fix these as part of their aftercare, but certain problems might fall under your home insurance policy, especially if they cause damage or loss.
Clarify what your warranty covers, what your builder will handle, and what falls to your insurer.
Possible Discounts
Here's a bonus: New builds often qualify for reduced home insurance costs compared to older homes. Modern construction materials, enhanced security features, and updated wiring typically result in fewer claims.
When shopping around, ask about special rates for brand-new properties. Some insurers throw in extras like emergency assistance or comprehensive accidental damage coverage at no additional cost.
Steps to Arrange Home Insurance for Your New Build
Ready to get covered? This straightforward checklist will help secure the right protection for your new property.
Gather Build Documentation
When requesting a quote for new property insurance, you'll need several documents and details, including:
- Completion certificate or building control sign-off.
- Details of any structural warranty (HomeBond, Premier Guarantee, etc.)
- Full address and property details (number of bedrooms, security features, etc.)
- Date of completion or handover.
With everything ready to go, you’ll get a quicker quote and accurate pricing.
Activating Your Policy
Once you've selected a policy, align the start date with your completion or handover date. This ensures your new home coverage begins exactly when you become responsible for the property.
Let your solicitor and mortgage provider know that coverage is in place - they'll typically need this confirmation before finalising your purchase.
Ready to Move In? Protect Your New Home with 123.ie
You've waited patiently for your new build to reach completion - now ensure it's protected before you cross the threshold. With 123.ie, setting up insurance for new homes is straightforward, friendly, and customised to your specific needs.
Read our full Home Insurance Policy Booklet to review cover details, exclusions, and benefits before you finalise your decision.
Get a Quote
Try our online tool for a personalised Home Insurance quote for your new build home policy, or reach out to our expert team for guidance.
We'll help you compare coverage options, find the ideal home insurance for your situation, and enjoy the confidence that comes from knowing your investment has proper protection.
Start your search with 123.ie and focus on turning your new house into a home.
