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Collecting the keys to a new home is a moment worth celebrating. After the paperwork, planning and waiting, you can finally start making the space your own. Between arranging deliveries, buying furniture and working out which box holds the kettle, insurance can slip down the list. But protecting your home and the things you put in it deserves attention before the move is complete.
If a leak damaged your new sofa, or belongings were stolen, would you know which policy to turn to, and what it covered? Whether you are moving to Chatham Views or another home in Gibraltar, a few checks now can help you start from the right place.
Brand-new fittings and freshly painted walls can make it easy to feel that nothing will go wrong. Yet a newly built property can still experience an unexpected incident. A leak, fire or theft could leave you facing costs when you have already spent plenty on moving and furnishing your home. The replacement value of everyday belongings, clothes, kitchen equipment, electronics and furniture can add up quickly.
Suitable home insurance can help protect against financial loss from insured events. Exactly what is covered depends on your policy, including its limits, excesses, exclusions and conditions. It is also important to distinguish insurance from any developer’s warranty or responsibility for defects. They serve different purposes. Do not assume a warranty replaces home insurance, or that insurance automatically covers faulty construction.
Buildings and contents insurance cover different things. Broadly speaking, buildings insurance covers the original structure and fixtures & fittings, while contents insurance covers belongings such as furniture, clothes and electronics. The precise definitions depend on the policy. If you are moving into an apartment, the development or management company may already have a communal buildings policy in place. That does not necessarily mean everything inside your home is protected.
Ask what the communal policy includes, what excesses apply and which responsibilities remain yours. Check how fixtures, improvements and personal belongings are treated rather than assuming they all fall under the same cover. The aim is to understand the arrangements clearly, avoid gaps and avoid paying for unnecessary duplication. If your mortgage or lease sets particular insurance requirements, check those too.
Your insurance should reflect your circumstances, not simply the fact that the property is new. Start by confirming when cover needs to begin. The appropriate date may depend on your ownership and contractual responsibilities, not just the day you unpack. If you are transporting belongings between properties, or your new home will stand empty before you move in, ask how those circumstances are treated. Don't assume coverage for possessions in transit, overlapping addresses or periods of unoccupancy.
Next, consider what it would cost to replace your contents. Include the less obvious items as well as the large purchases. A room-by-room list can help you build a realistic picture. Ask about individual-item limits for jewellery, watches or other valuables, and whether particular items need to be specified. If you are responsible for arranging buildings cover, ask how the required sum insured should be assessed: the rebuilding cost is not the same as the property’s purchase price.
Finally, check excesses, security requirements and optional cover, such as accidental damage. A lower premium is only useful if the policy still suits your needs.
To celebrate your new home at Chatham Views, Masbro is offering a 20% Net Premium discount on Home Insurance from select insurers. Multi-policy discounts on Motor Insurance are also available.* It is an opportunity to review your cover as you settle in and ask whether bringing your insurance arrangements together could suit your household.
The starting point should still be the right protection. Speak to Masbro about your home, belongings and circumstances, and ask which insurers and discounts are available to you. The Motor multi-policy offer is separate; it should not be understood as a 20% Motor Insurance discount.
Terms and conditions apply. The 20% Home Insurance discount is available from select insurers for the Chatham Views offer. Contact Masbro for full offer terms and to confirm eligibility. Ask separately for the applicable Motor multi-policy discount terms.
Before you settle into the new routine:
A new home is more than an address. It is where you will build routines, keep the things that matter and begin the next chapter. Make sure your new pad is protected with insurance that is tailored to your needs. Masbro can help you talk through your circumstances, understand the available options and check the details before you choose.
Speak to Masbro about home insurance and ask about the Chatham Views offer. Email non-motor@masbro.gi, call +350 200 76434, or visit Suite 1A, Tisa House, 143 Main Street, Gibraltar, between 9am and 5pm, Monday to Friday.
Offer terms and conditions apply. Cover is subject to the selected insurer’s policy terms, conditions, limits and exclusions.
