When you have a lapse in coverage—meaning, you don’t have insurance for a period of time—you’ll be penalized by paying more for insurance later, no matter your insurance provider or whether the lapse was intentional or accidental. What’s more, driving without insurance can lead to fi...
If you need to drive a few times a year, or if you plan on getting a car in the near future, consider being added to someone else's policy or reducing your coverage instead. This could save you money in long run since you won't have to pay higher premiums for lapsed coverage. You...
Penalty fees for lapsed insurance Long story short, don’t get caught operating a vehicle without at least the state minimum of coverage. Compare Insurance Providers Rates to Save Up to 75% What are the teen driver laws? Delaware follows a graduated licensing program, requiring all young drivers...
A car insurance lapse is a period of time when you own a car but don’t havecar insurancecoverage. This could be very costly, because if you get into an accident, you'll have to pay out of pocket for injuries or damages. A lapse in coverage can happen because you didn’t pay your...
Here’s another important point — having lapsed coverage can lead to higher car insurance premiums.Why? Because insurers see drivers who don’t maintain their coverage as a risk. And at the end of the day, high-risk drivers pay significantly higher rates. There are more ramifications to ...
When it comes to insurance policies, the grace period holds significant importance for policyholders. The grace period serves as a crucial buffer that allows individuals to rectify any missed premium payments and maintain continuous coverage without facing immediate consequences of a lapsed policy. ...
The Federal Emergency Management Agency said late Thursday that certain policyholders in seven states affected by Hurricane Helene whose insurance lapsed now have extra time to renew their coverage. Usually people who have pol...
When considering life insurance options, it’s important to understand the differences between various types of policies. A limited payment whole-life policy provides coverage with a set payment period, offering financial protection for the insured’s entire lifetime while allowing for a finite number...
Peace of Mind:Timely renewal ensures you're always prepared for unexpected incidents, whether on the road or off it. Avoid Policy Lapse:A lapsed policy may require a fresh inspection, leading to additional hassle and costs. Don’t Worry, Drive Happy! Get Quotes from Top Insurers. ...
Some states impose penalties for lapsed coverage. For example, Alabama will suspend the driver's license and impose a $200 license reinstatement fee. If caught driving without insurance or without the minimum state limits, the driver could be required to obtain a court-ordered SR-22 certificate ...