Insure when offer accepted?

[JEG]

Is it standard practice to insure from time offer is accepted [i.e. similar to exchange of contracts on houses] or does the risk stay with the existing owner until completion?

Hope you all agree.

Thank you.

 

[Chris771]

I have always taken on insurance from handover of boat, and kept my boats insured till the new owner has paid me in full.

I have no idea if correct, but just seemed the logical thing to do.

Chris

 

[Guest]

yup reckon offer accepted is not a transfer of ownership so insurance is with the owner until contracts signed and money handed over IMHO

"Your chance to own a Crown is now"