Certificate of currency requirements - NAB
What is a certificate of currency?
A certificate of currency is a document from your insurer that confirms your home insurance is current and valid. It usually includes details such as the insured property address, the type of cover, the policy period and your lender listed as the mortgagee or interested party.
Why do I need a certificate of currency before settlement?
A common condition of a home loan is to have insurance cover over the property. Before settlement, your lender may need to know the property will be insured from the time you become responsible for it. A certificate of currency gives them proof that insurance is in place, which helps cover you and your lender if something like fire, storm damage or another insured event happens.
How do I get a certificate of currency?
Once you’ve arranged home insurance for the property, ask your insurer for a certificate of currency. You may be able to download it from your online account, request it through your insurer’s app, or contact your insurer by phone or email. For NAB Home Loan customers who get NAB Home Insurance cover, their certificate of currency will be automatically emailed to NAB to help ensure there’s no insurance-related settlement delay.
Check that the certificate shows the correct property address, policy dates and your lender’s name before sending it to your solicitor, conveyancer or lender ahead of settlement.
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The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial and taxation advice before acting on any information in this article.