Building insurance with exchanging of contract


One of our solicitor’s employee called me today (27th June) after 4 pm and confirmed, that funds arrived at their account and we are ready to exchange the contracts (seller’s solicitor was very pushy to exchange today !)

Our building insurance wasn’t bought and I said that it’s too late for our mortgage advisor to arrange this today, so it can start on 27th June. I have been told that I can buy it one day later date (28th June).

At that moment I was concerned and asked what will be the scenario if something will happen to the property during the night. Who will cover that?

So I asked for the details and confirmation, that seller actually has building insurance and if we will be covered for that night.

She told me, that building insurance is in place, but could not respond to me with any details what will happen if for example will be a fire that night.

I did not agree to exchange the contracts without building insurance that day. Sorry, I am not an expert, but could someone explain me how does it work and if my thinking was right ??


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