Buying a German boat: what happens to the policy

Short answer

Under § 95 of the German Insurance Contract Act, the seller’s policy passes to you automatically on transfer of ownership; whether you want it or not.

Get a quote Boat insurance overview

German law handles this differently from most jurisdictions. When a boat changes hands, the existing insurance contract transfers to the buyer by operation of law. You do not need to do anything for cover to continue; you do need to act if you want different cover.

Both parties have a right to terminate: you as the buyer may cancel, and the insurer may cancel within a month of learning of the sale. In practice the sensible sequence is to tell the insurer promptly, decide whether the inherited policy suits you, and if not, arrange your own cover to start the day the old one ends. That way there is no gap and no double insurance.

If you are buying from abroad, check your eligibility before the sale completes rather than after. Residence in Germany, Austria or Spain, or a German, Austrian or Spanish flag, one of the two. A buyer who does not meet either condition and inherits a German policy will need to arrange cover in their own country before the transfer period runs out.

Am I automatically insured when I buy the boat?

Yes, under § 95 VVG the existing policy transfers to you. You should notify the insurer without delay.

Can I cancel the inherited policy?

Yes. Both you and the insurer have a right of termination following the transfer of ownership.

Should I insure the boat before completion?

Talk to us before completion so cover starts cleanly on the day ownership passes; and so we can confirm eligibility before you commit.

Can I insure with you? Flag and registration Cruising range