Home / Policy wording / Legal Expenses Insurance, Basis Plus / 7.5
7.5 Payment and consequences of late payment / subsequent premium, Legal Expenses Insurance, Basis Plus
Clause 7.5, Payment and consequences of late payment / subsequent premium, from Legal Expenses Insurance, Basis Plus, ARB WRS Basis Plus (1-2025nam).
German law applies; only the German wording is binding.
This English text is a courtesy so you can read what you buy, not a contract document.
Where the two differ, the German text decides:
7.5.1 Subsequent premiums fall due at the time agreed in each case.
7.5.2 Default If you do not pay a subsequent premium on time, you fall into default, even without having received a reminder from us. We are then entitled to demand compensation for the loss we have suffered as a result of the default (see 7.5.3). You do not fall into default if you are not at fault for the late payment.
7.5.3 Request for payment If you do not pay a subsequent premium on time, we may grant you a period for payment. This is done in text form (example: letter or email) and at your cost. This period for payment must be at least two weeks. Our request for payment is effective only if it contains the following information: The outstanding amounts, the interest and the costs must be itemised, and the legal consequences associated with exceeding the period under 7.5.4 must be stated.
7.5.4 What legal consequences does exceeding the period have? Loss of cover If you have still not paid after the period for payment has expired, you have no cover from that point until payment. We must, however, have drawn your attention to the loss of cover in our request for payment under 7.5.3. German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only. Cancellation of the insurance contract If you have still not paid after the period for payment has expired, we may cancel the contract without observing a notice period. We must, however, have drawn your attention to the possibility of cancellation without notice in our request for payment under 8.5.3. (The German original refers here to 8.5.3; the request for payment is governed by 7.5.3.) If we have cancelled your contract and you then pay the amount demanded within one month, the contract continues. In that case, however, you have no cover for insured events that occurred between the expiry of the period for payment and your payment.
The premium for your own boat is one page away, with a price and without a form.
