Full pay even when you’re sick!
9. June 2022
Off to our new home!
20. June 2022Full pay even when you’re sick!
9. June 2022Off to our new home!
20. June 2022
Finally, my own place!
When you purchase a home, not only does the property change hands, but the previous owner’s home insurance policy also transfers to you. This helps ensure that a building is never left without insurance. However, this does not mean that you are required to continue the policy in the future. If you’d like to purchase insurance from your usual insurance company or have received an offer from another provider, you can accept that as well.
Once the entry is made in the land registry, you have a special right of termination that allows you to cancel the existing insurance contract. It is important to note, however, that this right is valid only for one month from the date of the land registry entry. You have the option to cancel immediately or at the end of the insurance year. You simply need to notify the company that you are the new purchaser and wish to terminate the policy. If the seller did not mention a preliminary agreement, a special rule applies. The one-month special right of termination does not take effect upon entry in the land register, but rather upon becoming aware of the policy.
Good to know: Homeowners insurance should be part of every homeowner’s portfolio, as it covers a wide range of damages, including reconstruction costs.