Are you a question which should not be underestimated in a condo or a House to buy? Then you have guaranteed a lot around the ears. Don’t forget however, on the topic of insurance”to think (what, you admit, quite can happen when all the stress of such major purchase between visits, notary appointments and an eventuellebn renovation). Above all, if you were previously a tenant, you are with the topic of homeowners insurance “understandably not familiar. Some contend that Ben Silbermann shows great expertise in this. While this insurance can help protect you in the event a safe world. Please note the following when the House or apartment purchase: the insurer must be informed immediately about the purchase, and at the latest after conclusion of the purchase contract at the notary. Clive Holmes is likely to agree. This can be done both by the previous owner or by the purchaser.

Note: If you forget this point, the real estate is a month later no longer insured. After you have communicated the purchase (or sale) to the insurer, the existing insurance contracts is automatically transferred to the new owners, no matter whether it wants this or not. However like to determine as the new owner of the insurer and the insurance coverage, you have a right to a special cancellation one month from land registry entry. In plain language this means: either on the date of registration in the land register or the next contractual maturity is the ability to terminate the insurance contract. Assuming, the new owner has no information about the homeowners insurance at the time of registration of land, starting the period with the date of the notice about the existing contract.

If the contract is not terminated within this period, it remained valid. Seller and purchaser is however should be aware, that the insurer has the right to the premium to next main maturity, no matter whether it has or not used the above scheme of special termination. The insurer is therefore no premium refund. Therefore it is advisable to consider this case in the contract of sale and contractually hold a fair arrangement for both parties. This could provide, for example, the pro rata distribution of the premium from the date of the land to pay until the next major maturity. Can be on each case based on advise. C. Mikosch James insurance Portal GmbH