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Insurance Checklist for New Homeowners

Published · Updated

Adam Sleep

Written by Adam Sleep · Head of Insurances, Orange Network

Reviewed by Richard Banks · Managing Director

Buying a home changes your insurance needs. Here's what to review when you get the keys.

Life insurance — Covers your mortgage if the worst happens. Trauma cover — Lump sum if you're diagnosed with a serious illness. Income protection — Replaces income if you can't work. Health insurance — Faster access to private treatment.

Many people only review insurance at purchase time. We recommend an annual review — especially after major life events like having children or changing jobs.

Frequently Asked Questions

What insurance should a new homeowner have?
Start with life cover at least equal to the mortgage, then consider trauma and income protection so an illness or injury does not force a sale. Health cover is a personal choice about treatment speed. The right amounts come from a needs conversation, not a package.
When should I review my insurance?
When you buy, refinance, have children, change income, or start a business — and at least annually. Cover set at purchase rarely still fits five years later.
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