Home Insurance for New Build Homes

New build properties are growing in popularity, with 66,855 new homes being registered in the second quarter of 2022, which is a 45% increase of the number registered in Q2 2021.

If you’re thinking about buying a new build property, it’s important to know what kind of insurance you’ll need to make sure your home is covered. There are some benefits that come with choosing a new build, but just because your home may have been built in the last ten years doesn’t guarantee that you’re entirely safe from structural issues. So it’s worth making sure you’re covered.

What is a new build property?

A new build property (also known as a new build house) is generally agreed to be a property that has been built, or significantly renovated within the last two years. The majority of new builds come with an NHBC Buildmark certificate as standard, so if you are considering buying a new build you should always enquire if the property has one.

What types of home insurance cover new build properties?

New build properties can be covered by different kinds of financial protection. If you are buying a new build it’s worth finding out how your home is covered and what you may still need to consider.

• NHBC Buildmark - a ten-year warranty that only covers you for damage caused by poor building standards

• Home Insurance - this can be broken down into:
  - Buildings Insurance - this type of insurance protects the structure of your property (walls, windows, roof)
  - Contents Insurance - this type of insurance protects the personal items you keep inside your home (furniture, gadgets, jewellery)

What is NHBC?

The NHBC (National House-Building Council) Buildmark certificate is a form of warranty that is given to new build properties that have been constructed by NHBC-approved companies.

Around 70-80% of new build properties come with an NHBC warranty, which lasts for 10 years. The guarantee exists to protect homeowners and ensure that properties are built to a good standard. If your home is covered by NHBC and you have a structural issue within the first ten years of the building’s completion that’s caused by poor building standards, you may be covered.

How can I get cheaper insurance for my new-build home?

There are a couple of ways to potentially lower the price of your new build-home insurance.

• Look for NHBC - if you are still at the stage of choosing your new build home, look for those that come with an NHBC warranty. NHBC warranty protects you against builder error for the first two years after the property is legally completed, and continues to protect you for another eight-year period against certain structural defects. Choosing a property with NHBC warranty could save you money on potentially costly repairs.
  

• Pay annually - some insurers offer a slightly reduced price on your premium if you are able to pay annually instead of monthly. You can check with your insurer whether they offer this when purchasing.
  

• Protect your no claims discount - some providers offer a no claims discount, which means that you may be able to reduce the price of your premium if you have a history of no claims.
  

• Consider combined - if you are interested in both buildings and contents insurance it can be cheaper to get a combined policy from the same provider.

Does John Lewis Home Insurance cover new build homes?

John Lewis Home Insurance could cover your new build property. There are three different levels of standard Home Insurance (Bronze, Silver and Gold) and one level of Specialist Home Insurance.

If you are looking for home insurance you can find out more about our policies.