How to Renew Your Car Insurance Policy: The Ultimate Guide
Renew car insurance policy is an easy process that makes sure you stay legally insured while going down the road. Most insurance companies will write to the insured (via email or hard copy) ahead of the expiration of their policy, as to provide enough time for the insured to read over their renewal options, make some adjustments, or switch companies if needed.
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When Should I Renew My Car Insurance Policy?
Most car insurance policies are for either six-month or twelve-month durations. About a month or two in advance, the insured will receive a renewal notice from the insurer outlining:
• When is the renewal date
• Update premium amount
• Any changes in terms or coverage
The notice will be both a reminder for the insured to thoroughly review the policy, and a chance to decide whether to renew with the current company or look elsewhere.
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Is it a Straightforward Process to Renew Car Insurance Policy?
Sure. With most insurance companies, if you are renewal eligible, renewing your car insurance policy is simply a matter of paying for the policy and making sure it happens before the expiration of your current policy. Depending on your insurer or state, you might have to sign a form or verify the renewal online.
Most importantly, just make sure your renew your policy prior to its expiration date, in order to avoid any coverage gaps. Driving without insurance, even for a small time period, may carry penalties and other legal troubles.
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What if You Don’t Want to Renew Car Insurance Policy?
If you choose not to renew your current policy with your insurer:
1. Notify the company prior to your renewal date.
2. Cancel any autopay arrangements.
3. Obtain a new policy to maintain continuous coverage.
If you did not notify your insurer, you could automatically renew your policy. If this happens, you can cancel mid-term, though some insurers may apply a cancellation fee.
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Can You Renew Car Insurance After It Expires?
If you miss your renewal date, you may be able to reinstate your auto insurance policy anytime within a short time frame with many insurers, but there will likely be a lapse of coverage, meaning you are technically uninsured.
If this is not an option, you will need to purchase a new policy instead; this is typically a very quick process. Just keep in mind that an insurer could charge you more if you had been uninsured for any length of time.
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What Happens If You Drive Without Having Insurance?
In most states, it is illegal to drive your vehicle without valid auto insurance and it can have serious consequences such as:
• You could risk being fined or penalized.
• Your driver’s license could be suspended.
• You could also be held financially liable for any damages to a person, vehicle or the road if you get into an accident.
So, it’s very important to make sure your car insurance is always on and active for legal reasons.