When should purchasers take out home insurance?

Congratulations you have purchased a property! Now the question is when is the best time to take out home insurance on your new property purchase?There are a few trains of thought on this one and ultimately, it is up to the purchasers to decide when they want to take out their insurance policy.Each state and territory have different rules on this topic, and here in Victoria, the purchaser takes on all responsibility for damage to the property upon settlement.It is best practice to use the time between the purchase and settlement to source quotes from various home insurance brokers and ensure you are all set for settlement day!For more information visit us today at conveyancer.com.au or call 1300 635 556