527. Personal nature of contract
A contract of fire insurance is a personal contract with the assured, and not a contract passing with the property insured. Therefore, on the sale of a thing insured, no interest in the policy passes to the purchaser unless at the time of sale the policy be expressly or impliedly assigned. Thus, if a vendor who has insured property against fire conveys it to a purchaser without assigning the policy and a fire occurs, neither vendor nor purchaser can recover; the former because he or she has parted with his or her interest, the latter, because he or she is not insured by the policy.