My insurer refuses to settle a claim because I no longer own the property. The claim was made prior to exchange of contract. Is this legally correct?
Colm Taylor
Your rights against the insurer will depend on the terms of your policy and the nature of the loss you have suffered.
Generally, property insurance will require that you had an insurable interest in the property at the time when you suffered loss covered by the policy. For loss to be covered it must have been caused by an insured risk (for example a water leak or fire).
You were the legal owner of the property prior to exchange of contracts, so you had an insurable interest at the date of loss. The seller of a
