It is important to pay your car insurance payments on time. If you forget to make a car insurance payment, the consequences can vary based on the state that you live. Here are a few things that you can do if you miss a car insurance payment.
Make a Late Payment
Generally, there is a little bit of leeway between when your payment is due and when your policy will cancel. In many states, the insurance company has to send notice that your policy will cancel before your policy can cancel.
So, if you missed your insurance policy payment by a few days, get online and make a payment, or call your insurance company and make a payment. There is generally some allowance period between a late payment and your policy canceling, so just make sure you make the payment before that grace period elapses.
Ask to Be Reinstated
If you missed making your payment and your policy was canceled, there is still hope. You can call your insurance company and ask if they will reinstate your policy. This is not a service that car insurance companies are required to offer, but many will offer this benefit, especially if you have been a customer for a while.
With a reinstatement, you will have to pay what you own on the policy before it was canceled, as well as any late fees that were incurred. Then, your policy will be reinstated. When your policy is reinstated, you will retain the same policy number and generally the same premium amount. However, you may have to pay some fees involved with getting your policy reinstated.
Start a New Policy
Third, you may just have to accept that you will have a lapse in coverage on your insurance history. You are going to have to apply for a new insurance policy. You can apply for a new insurance policy with your former insurance provider, or you can apply for a new insurance policy with a different insurance provider. As you have had a lapse in coverage, you may find that your insurance premiums are higher, even if it is brief.
If you are a few days late on your insurance payment, make it right away. If your insurance company canceled your policy due to late payments, see if you can get your policy reinstated and roll back the clock on your lapse coverage. Conversely, you can also start a new policy and deal with the increased premiums you are likely to face due to your short lapse in coverage. Reach out to a professional to ask any other questions about your auto insurance policy.