Home Buyers Insurance

Cover Includes

  • Protection Against Gazumping
  • Conveyancing & Survey Fees
  • Fees Covered up to £2,250

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Cover against property purchases falling through.

Home purchases fall through more often than you would think, so our policies protect the money that you pay upfront when buying a house.

Purchasing a property can be stressful and expensive. Unfortunately for home buyers, there are many potential problems with buying and selling a home that are not always common knowledge, particularly for first-time buyers, but they are part and parcel in the home-buying process.

A recent Which? study* found that around 30% of property purchases fall through, resulting in an average cost of £2899 to each homebuyer.

Without the right cover, you risk losing what you have paid in advance for conveyancing,  survey and valuation fees, which is why it is important to take out the right insurance when buying a house.

We offer house purchase insurance policies that are designed to protect you against uncontrollable problems in the home buying timeline. Whether a seller takes their property off the market, or you’re a victim of gazumping, you can be confident that one of our policies has you covered.

Our Home Buyers Protection Insurance is conveyancing insurance and gazumping insurance, with additional protection against the unexpected, all rolled into one comprehensive Home Buyers Insurance policy.

With varying levels of buyers protection cover tailored to your needs, our policies reduce the financial risks that come with buying a home, allowing you to live life with the confidence that the costs for your home purchase are protected!

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What’s covered?

The policy is valid for 180 days

Cover levels




What’s not covered?

We aim to be as clear and transparent as possible. So please check what we don’t cover, because sadly, we can’t cover everything.  The policy doesn’t cover you for example, if you withdraw the offer of sale for reasons not included in the policy schedule; you can’t just change your mind, for example.  Other situations that aren’t covered by this policy, include;

  • If you are unable to secure a lender for your property purchase
  • If your vendors’ inability to legally sell the property cannot be confirmed in writing by your solicitor
  • If you decide to withdraw from your property purchase due to delays
  • If you decide not to purchase the property because the property is different in some way to that expected, discovered, either through search results or other means
 It is important you understand that you will not be covered if you withdraw from the purchase of the property, other than if:
  • – You or a person you are purchasing the property with is given a notice of redundancy
  • – The vendor is not legally entitled to sell the property, and this has been confirmed to you in writing by your solicitor
  • – A local authority search reveals that the property is subject to a compulsory purchase order
  • – You die, or a person you are purchasing the property with dies, as a result of bodily injury occurring during the period of insurance.

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Important bits to remember

Conveyancing must be carried out by a solicitor or licensed conveyancer.

Cover is valid for 180 days from acceptance of the offer or until you make a claim, cancel the policy or complete the property purchase.

The policy doesn’t cover you if you withdraw the offer of sale for reasons not included in the policy schedule; you can’t just change your mind, for example.

Must purchase this policy within 7 days of receiving written acceptance.

What are the costs of buying a home?

The steps to buying a house vary dependent on a number of different factors, in general, all homebuyers can expect to pay;

What is Gazumping and Gazundering?

Gazumping is one of the most common reasons for a house sale to fall through.

Gazumping, or being gazumped, is when a prospective house buyer has made an offer for a property and had it accepted by the seller, only for the seller of the property to accept a higher offer from another buyer before the exchanging of contracts.

Gazundering, or being gazundered, is when a prospective house buyer has had an offer accepted for a property, only to offer a lower amount before the exchanging of contracts.

Is Gazumping illegal?

Gazumping is NOT illegal.

Whilst the legality of gazumping has been a talking point, increasingly so over the past few years, it is still legal and whilst it is not acting in good faith, it is still a pertinent risk when purchasing a property.

Landlords Home Buyers Protection Insurance

Our policy provides home buyers protection for landlords too, so if you are looking to buy a property to let, you still have the same security as buyers making a residential purchase.

Following Landlords protecting their cash investment during their property purchase, we provide Landlords Home Insurance to protect the property and equipment after purchase.

Some Frequently Asked Questions

Why would the purchase of a property fall through?

The reasons are plentiful, most of which are also out of your control, some of the most common reasons are;

Do I need home buyers protection insurance?

Whilst home buyers insurance is not a legal requirement, it is highly recommended in order to protect yourself from losing thousands of pounds as a result of something that is out of your control.

When should I purchase this cover?

You should purchase Home Buyers Protection Insurance within 7 days of receiving written acceptance of your offer.

Is home buyers protection insurance worth it?

With the potential cost of £2899 to the buyer when a sale collapses, the cost of our cover ranges from £95 to £220. This is just a fraction of what you stand to lose should the unexpected happen.

How do I protect myself against the purchase of a property falling through?

It is difficult to protect yourself from a purchase falling through due to the external factors that are out of your control.

Communication is key! – Ensuring that you keep regular contact with your agent is highly recommended.

The best way to protect yourself is by safeguarding your finances with home buyers insurance, ensuring that your further attempts to purchase another property are unaffected.

Can I cancel the policy if I change my mind?

Yes, like all of our policies you are entitled to a full refund if you cancel within the first 14 days from the policy start date. Any cancellations after the 14 days cooling-off period will not be refunded.

How will I receive my documents?

Surewise is a paperless company which means all of your policy documents will be sent to you via email as soon as you have purchased your policy. This will include your policy wording and policy summary.

Am I covered immediately?

Yes, you are covered as soon as you receive acceptance of your offer on a property.

Can I use this cover when buying a property abroad?

No, the property you are purchasing must be within England & Wales.

Can I get the survey done before I purchase this cover?

Unfortunately, any surveys that are paid for or taken place BEFORE the start date of the policy will not be covered.