Should I Carry Personal Liability Insurance When Unemployed?

[LilyFrances]

Is there a reason for me to purchase any personal Liability Insurance for this year, since I do not plan to practice as a nurse this year?

I graduated from nursing school (with an associate's degree) and received my nursing license (RN) almost 18 months ago. Since that time I have been looking for work and volunteering, and have kept the personal liability insurance active.

However, my husband and I are now expecting our first baby in a few weeks! Given the poor job market and high cost of childcare in our area (NYC), I am planning to be a stay at home Mom for at least a year before going back to school to get my bachelor's degree. It is also unlikely that I will do any further volunteer work during the next year. I do plan on keeping my nursing licenses active.

Do I need keep my insurance active in case something comes up from my school years or volunteer work, or will I still be covered since I had insurance at the time? Will letting my insurance lapse make it harder to renew?

Thanks in advance for any help!

[boogalina, ADN, ASN, BSN, MSN, LPN]

Check your policy to see whether it must be active to cover you at the time a claim is made (claims made policy) or if an expired policy would still provide coverage for an occurrence that happened while it was in force (can't remember the insurance term for this). Call your insurer for this answer, though, as reading an insurance policy can be pretty confusing.

[elprup, BSN, RN]

Good question. I wonder too, for all of us looking for jobs. I usually just keep mine active for peace of mind regarding previous jobs.