If you cannot afford to pay your car insurance by the date that it is due, your policy will lapse. There is normally no grace period for auto insurance policies. What that means is if you fail to pay on time, usually on the day that your premium was due, your policy will be cancelled and you will be uninsured. There are some online auto insurance companies, however, that will allow you up to one month to make your scheduled payment.
What Are The Consequences For A Lapse In Auto Insurance?
Driving uninsured is illegal. In many states, driving without auto insurance coverage means you could face penalties including:
• Suspension of your license
• Suspension of your registration
If you cannot afford to pay your car insurance, and you would like to avoid these penalties, many states require that you turn in your registration and license plates. Because nearly every state requires that a vehicle be insured in order that it be registered, if you turn in your registration and license plates you cannot be penalized for being uninsured.
If you do choose to turn in your license and registration, you must find a spot to park your car that is not on a public roadway; the majority of states have penalties uninsured / unregistered cars that are parked on public roadways. You will also have to find another way of getting around until you can afford to insure your vehicle again. Furthermore, plan for your insurance premium to be higher that it was when you defaulted on payments, due to cancellation and a documentation of nonpayment on record.
What Should I Do To Reinstate My Online Auto Insurance?
If you lapse in auto insurance and want to reinstate with the same company, keep in mind that that company may no longer be in your price range. Your best bet to find affordable online car insurance is to shop around. CarinsuranceQuotes.com will help you save money on online auto insurance by searching through hundreds of affordable car insurance companies and policies to find one that is perfect for you and your lifestyle. When you search for online auto insurance with CarInsuranceQuotes.com, we will help you to find ways to save money on your online car insurance premiums, so you won’t have to drop your insurance again or receive a penalty for driving uninsured. To get quotes from online car insurance companies at rates that you can afford, visit CarInsuranceQuotes.com. We’ll get you quotes – fast.