I am looking to purchase a business insurance package (commercial + property liability) for my business. I Might Sell the Business in the near future. In Such case, my insurance Would Be transferrable? Or Should I Have to Cancel The penalty With insurance policy?
Roger Seward says...
Only if the business is a corporation, and you are ACTUALLY transferring the stock.IE, nothing changes except the CEO.
Otherwise, policies are not normally transferrable.They have to be cancelled & rewritten for the new owner.
Posted on September 9, 2011
