A lapse in car insurance coverage means you own at least one vehicle that no longer have the minimum coverage limits required by your state. Would you like to renew expired or lapsed car insurance policy? Your first step should be contacting your insurance agent or directly auto insurance company (listed in your contract). When you obtain payment details, dont waste more time and renew expired car insurance immediately. Cancellation of your car insurance policy is the most common reason for coverage lapses. The main reasons are: late payment, nonpayment of premium coverage or any other failure to renew.
Penalties for car insurance lapses (dmv.org):
- Driver’s license suspension - only in some states
- Vehicle registration suspension
- Fines and reinstatement fees
- SR-22 financial responsibility filing requirement.
What if I have an traffic accident during grace period?
What exactly is a grace period and how does it work A grace period is the amount of time you have to make your car insurance payment after your normal (obvious) due date. A grace period varies by type of insurance policy and U.S state you are living. In the case, if you have had car accident during your grace period, take care for you current payment. The true is...traffic accident can happen to anyone at any time. But claims are obviously covered. What happens if I go past my grace period? More information at www.thebalance.com.
- Chlora Lindley-Myers, Director
- (Midwest Zone)
- Department of Insurance
- Fin. Institutions & Prof. Registration (DIFP)
- PO Box 690
- Jefferson City, Missouri 65102-0690
- Phone: 573.751.4126
- Fax: 573.751.1165
- Street Address:
- 301 West High Street, Suite 530
- Jefferson City, Missouri 65101