Australia's leading provider of affordable DIY legal kits
Call our Customer Care Specialists on 1300 728 200
   

Legal Forum

Welcome to the FREE AussieLegal Forum

This FREE legal forum is supported by participating lawfirms in your local area.
The information contained in this public forum, and any comments made by the administrators, it's appointed mediators, or members of the public are of a general nature and may not be regarded as financial or legal advice in any way. We recommend that you seek formal advice from a practicing solicitor or licensed financial advisor regarding your particular situation. By registering to use this forum you meet the above criteria and agree to abide by all of the above rules and policies.

To be sure we provide you with the most relevant information to your state, please let us know which state you your legal matter resides in:

ACT  NSW  NT  QLD  SA  TAS  VIC  WA  

AussieLegal recommends this law firm:

  FAQ FAQ  Forum Search   Register Register  Login Login

Insurance Claim on old policy

 Post Reply Post Reply
Author
  Topic Search Topic Search  Topic Options Topic Options
Cookie01 View Drop Down
Newbie
Newbie
Avatar

Joined: 14/September/2012
Location: Australia
Posts: 16
  Quote Cookie01 Quote  Post ReplyReply Direct Link To This Post Topic: Insurance Claim on old policy
    Posted: 13/March/2018 at 19:53
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.

Eddy View Drop Down
Senior Member
Senior Member


Joined: 14/December/2012
Location: Australia
Posts: 179
  Quote Eddy Quote  Post ReplyReply Direct Link To This Post Posted: 14/March/2018 at 15:09
If you hold the insurance now then the answer to your question is likely going to be yes. In the case of Professional Engineers, I know that there is "run-off" cover for PI insurance for just this case. The period of cover for this insurance varies depending on the state and relevant area of law.

haier View Drop Down
Newbie
Newbie
Avatar

Joined: 15/March/2018
Location: Australia
Posts: 1
  Quote haier Quote  Post ReplyReply Direct Link To This Post Posted: 15/March/2018 at 19:47
Originally posted by 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.


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.

 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Want to save money?

Check out our list of do-it-yourself legal kits.

Need formal advice?

Let us help you find a lawyer who specializes in your particular area of law.

Need further information?

Visit our legal forum where you can ask questions and search for similar topics.