2 Comments Commercial law, litigation, contracts, IP, property law
[QUOTE=Cookie01] This is a hypothetical situation but for my own comfort would like to know what the likely outcome would be
I have business Insurance for Commercial Installations, I will retire in 10 years time but someone stated that when I stop paying for my insurance I am no longer covered even for jobs that I have done recently, once the policy expires.
Is this true, would have thought that my liability, and the insurers, would be whilst the building is still using my work should my work fail.[/QUOTE]
If you fail to pay your premiums and exhaust the grace period for plans offered in a insurance policy, you will lose your insurance coverage.
The grace period is either one month or three months long, depending on the contract between you and insurance company.