Is this true with auto insurance?
Question:
Answer:
Talk to your insurance agent and explain the situation. Most are usually willing to work with you. The contact is very important as they don't look very highly on someone who just doesn't pay the bill.
Yes...its true
Possibly...it really depends on who your are insured with.
That is up to your individual company. Read your contract or speak with your agent.
I really doubt there is any law which says there must be a grace period.
Depends on the insurance company and your payment history with them. Some yes, some no. Call and discuss this with your agent.
Read your bill, it should give you a due date and grace period info. You may have to read the back of the bill to find grace period info.
Yes.. You have to have a notice mailed to you that is "Pending Cancellation of Services" .. and it says that if you do not pay by the certain day your policy is ineffective.. Which usually is a month after the original payment due date.. :)
if you're late, you'll ususaly get a letter from the insurance company stating when your insurance is going to expire. and after that date, if anything happens then your not going to be covered .
There is normally a 30 day grace period. I would call my insurance company not to ask but to confirm. i.e. "I'm calling to confirm that there is a 30 day grace period to pay my premium." By not asking and by confirming, I find that it gives people LESS of an opportunity to say no to a yes answer.
yes, but it is not a long period of time, and it depends on the company.
In most cases, yes, this is true. Most insurance companies are required to give lienholders (aka finance company) at least 10 days of notice before a policy cancellation, therefore, the customer normally gets this as well.
The company I work for always gives at least 10 days grace from the first due date of the bill. If you don't pay on the first due date, a 2nd notice automatically goes out, notifying the customer and the lienholder of the last possible date that the coverage can be paid. If you exceed the final due date, then you are cancelled due to non-pay.
To be sure on this, contact your insurance company. Not all companies are the same.
It depends on each individual company. Some companies will give you a small window and others don't! As a former claims adjuster I know that if you miss a payment with most major companies you will have a LAPSE in coverage and if there's an accident during that lapse you are responsible for damages/injuries caused by an accident you are at fault for OR if you try to file an uninsured motorist/bodily claim it will not be covered.
--Check your policy or talk with your agent!
if you have no insurance its best not to drive
More Questions & Answers...