Can I pre-purchase a new policy?
You can buy a policy today, and for a future effective date within the next 30 days. We’ll ask you to enter a cover start date on the initial quote page before proceeding to the application form.
Key takeaways
- You can purchase an insurance policy before you need it to start.
- Your policy can begin on a future date, such as your settlement date or renewal date.
- Buying your insurance early gives you time to review your cover before it starts.
- You must have an insurable interest in the property when the policy begins.
- If your settlement or moving date changes, contact us so your policy can be updated if needed.
- Planning ahead can help ensure there’s no gap in your insurance cover.
Purchasing a new house
If you’ve purchased a house, you should set the cover start date as the same day as the settlement date for the purchase. This means your insurance will start when you own the house. We are unable to provide cover prior to the day you become the legal owner.
Changing your insurance company
If you’re changing to initio from another insurer, it’s a good idea to set the cover start date on your new initio policy to the day that your existing policy expires. This way, there is no period where you are not insured.
Common reasons to pre-purchase insurance
- Buying a new home
- Switching from another insurance provider
- Renewing your insurance
- Planning ahead before moving house
How pre-purchasing a policy works
| Date | What happens? |
|---|---|
| Today | Buy your insurance policy |
| Before commencement | Review your policy documents |
| Settlement or renewal date | Your insurance begins |
| After commencement | Manage your policy through your dashboard |
Ready to get your journey started with initio?
Frequently asked questions:
Can I arrange insurance before my settlement date?
Yes. Many people arrange their insurance before settlement so everything is ready to start on the day they become the legal owner of the property.
Can I switch insurance providers before my current policy expires?
Yes. You can arrange your new policy in advance and choose a future start date that aligns with the end of your existing policy, helping avoid any gap in cover.
When should my house insurance start?
Your policy should generally start on the day you become responsible for the property, such as your settlement date when purchasing a home, or your chosen renewal date when switching insurers.
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