What happens to the insurance when the building is sold?

When selling the property for which a building insurance was concluded, the buyer “first” takes over the existing insurance contract. Both buyer and seller are jointly and severally liable for the premium payment. The buyer can then cancel the insurance in writing after the insurance year has expired. The insurance company may also terminate the insurance within one month of purchase or sale. If it does not do so, however, it’s right to terminate expires.

Updated on: 02/10/2024