Life has a tendency to catch up with everyone occasionally. If you’re lucky, when that happens, the consequences will be minimal and you can go on about your business. But what happens when you get caught with your pants down, so to speak? Maybe your car insurance payment was due and you found the bill tucked in among your dry cleaning receipts, and only noticed it because you ran out of clean shirts. Oops!
Your insurance company may be required by the state to notify you of a pending cancellation to your policy. But then again, they may not. The ramifications for non-payment of insurance, beside the obvious, of course, may be a fine from the state motor vehicle authority for failure to have car insurance (even if only for a single day!), an increase in your insurance premiums for allowing your insurance coverage to lapse (even if only for a single day!) or even denial of insurance.
State laws and insurance company rules and regulations differ, so there may or may not be a grace period between the date a payment is due and the date a policy is cancelled. One thing is for sure, as soon as you’re aware of your mistake, you better get on the phone to your insurance company, with credit card number or check book in hand. Be prepared to call around for auto insurance quotes.
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