Liberty Quality Home - house and contents insurance
CONTRACT BASES
Article 14 - In case of processing
* In case of transfer of the insured object, the purchaser subrogates, as of the moment of the alienation, the rights and obligations that corresponded to the previous policyholder.
* The insured must inform the purchaser in writing of the existence of the policy for the transferred object. Once the transfer has been verified, he / she must also inform the insurer or representatives thereof in writing within a period of fifteen days.
* The purchaser and the previous titleholder, or, in case of his / her demise, his / her heirs, shall be jointly and severally liable for the payment of the premiums due at the time of transfer
* The insurer may terminate the agreement within a period of fifteen days from the day on which it is notified of the verified transfer. Once it has exercised its right and notified the purchaser in writing, the insurer is under obligation for a period of one month as of the notification. The insurer must reimburse the portion of the premium corresponding to the insurance period for which, as a consequence of the termination, it has not borne any risk.
* The purchaser of the insured object may also terminate the agreement by providing written notice to the insurer within a period of fifteen days upon learning of its existence. In this case, the insurer is entitled to collect the premium corresponding to the period that has elapsed up to the moment of the termination of the agreement.
* The same rules shall apply for cases of death, temporary receivership, debt reduction and grace periods, bankruptcy or insolvency proceedings on the part of the policyholder or the insured.
Article 15 - Execution and effects of the agreement