Friday, March 01, 2013
This afternoon I had the surreal experience of getting insurance on a house I don't own. We saw the lawyer this afternoon and she recommended that we get insurance already this afternoon rather than wait till Monday as we will still be liable to buy the house once we have a deposit down, even if it burns down or something between Saturday and Monday. This is called a "cover note". If we don't buy, we phone the insurer on Monday and cancel the policy. So we are all ready. The lawyer charged $220 for looking at the contract and going over things with us. No charge for looking at future contracts if we don't buy the house this time. Insurance for the house will be $966 per year.