Is it Bad to Let Your Car Insurance Run Out Temporarily?
Tuesday, October 27th, 2009 at
9:18 pm
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Kitty asked:
The insurance on one of my cars will run out in a few days, and the other one will run out at the end of this month. I was thinking of just waiting until the end of the month to get a new policy so that it will be more convenient and from now on I can renew both at the same time. Of course, I don’t plan on driving car #1 until I get the new policy.
Is this a bad idea? Can insurance companies charge more if you let your insurance run out, even for a short while?
(They usually ask you when you’re getting a quote online.)
Ruby
The insurance on one of my cars will run out in a few days, and the other one will run out at the end of this month. I was thinking of just waiting until the end of the month to get a new policy so that it will be more convenient and from now on I can renew both at the same time. Of course, I don’t plan on driving car #1 until I get the new policy.
Is this a bad idea? Can insurance companies charge more if you let your insurance run out, even for a short while?
(They usually ask you when you’re getting a quote online.)
Ruby
Tagged with: Car Insurance • Driving Car • Few Days
Filed under: Insurance & Registration
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Leroy
keep the insurance on companies charge higher rates for (NEW POLICY HOLDERS) ALSO YOU CAN TRANFER YOU EXIISTING POLICY ON BOTH CARS THATS A SMART MOVE BEFORE YOUR INSURANCE EXPIRES
Leroy
Usually its a bad idea to let it run out… in some states its even illegal to OWN a car without active insurance even if you dont drive it. I’d talk to your insurance company… if your reason is so that you renew both cars at the same time, they may have a way to make a deal with you or set things up…
Bernard
contact the new agencey now and tell them what you are doing. if they are good and want your buisness, they will work it for you.
Marcus
If you don’t have a car loan on it, then it is definitely bad. You’ll get in a lot of financial trouble if you let it laps while you’re still making car payments on it.
Otherwise if you own the car outright and you absolutely DON’T drive it while its uninsured…you’re ok.
Ellen
Another thing to consider is the Department of Motor Vehicles in your area. Here in Maryland, there is a huge fee ($100 or so) per day for every day your car is uninsured. They are notified by the insurance agency when the policy is either terminated, expires, or changed — and so they’ll know how many days you are without insurance inbetween and assess the fee(s) accordingly.
Joel
my insurance agency said that the date they send you is actually early and you may have two weeks to pay, but you’d better call your agent to be sure, most cases it is a negative to let your insurance lapse.
Marlene
Just call your new insurance company and tell them when to start the coverage on both vehicles. You can call them well before that start date.
Karen
In many States, your registration will be revoked if you let the insurance lapse even for one day. Then you will really be able to renew them both at once. Also, here in New York, you can not cancel an insurance policy without either unregistering the vehicle or furnishing proof ot other insurance.