Change of Ownership
Change of Ownership Insurance is when you – for a fee – delegate liability for potential hidden defects and deficiencies in the home you are selling, to an insurance company. An investment that gives you peace of mind when selling your home. Protector Insurance has discontinued offering new Change of Ownership- policies as of December 31, 2021.
Protector Discontinues Home Seller's Insurance
After 17 years in the market for Ownership Transfer/Home Seller's Insurance, we announced in 2018 that we would be withdrawing the "Home Seller's Insurance" product from the market. Since then, we have continued to offer the product with the reservation that it would be discontinued once changes to the Alienation Act come into effect.
In June 2021, the government announced that changes to the Alienation Act, which regulates the purchase and sale of real estate, will take effect from January 1, 2022. In line with this, we will discontinue the "Home Seller's Insurance" product on December 31, 2021.
Active Insurance Contracts
All insurance contracts entered into before this time will remain valid according to the insurance agreement. By "insurance contracts entered into," we mean those where the self-declaration form has been completed and the sales agreement (acceptance of the offer) occurs before December 31, 2021. If the offer is not accepted before December 31, 2021, the real estate agent/lawyer assisting with the property sale will need to offer insurance from another provider.
Claims settlement will continue to handle existing and new claims as before. Therefore, there will be no changes to existing insurance agreements or ongoing and new claims for policies taken out as described above.
We would like to thank all our partners, customers, and counterparts for many good years. This product will always be a significant part of Protector Forsikring's history.
If you have any questions regarding the discontinuation, they can be directed to bsf@protectorforsikring.no.