(Cue infomercial voice for the next few lines) Are you frustrated with your auto insurance? Are you ready to drop your coverage and find something better?
The problem is the order needs to be 1) Find something better and then 2) Drop your previous coverage. Having a lapse in coverage has many consequences.
Never cancel/drop your insurance coverage without a plan
The common attitude towards insurance these days unfortunately isn’t very friendly, so there is a decent chance at some point in time you will want to leave your current insurance carrier and find something better. We understand the desperate search for good auto insurance coverage!
We can help you find the coverage you need, but first here are the biggest reasons to never cancel a policy and experience a lapse in your car insurance!
The Consequences Of A Lapse In Coverage
Increased Car Insurance Premiums In The Future
Your car insurance rates are based on how much of a risk you are considered to be. There are numerous factors to effect your insurance rates and one to carry with you and red flag carriers is a lapse in insurance coverage.
A lapse in coverage shows you to be an irresponsible driver and such a move could mean the top carriers deny your coverage. When you begin to deal with lower rated insurance companies you will likely find higher prices and be forced to sacrifice coverages for price.
Before you leave your insurance company because you are frustrated or complaining about prices, be sure you have other coverage in place prior to canceling your current car insurance policy.
The Legal Repercussions If Pulled Over Or In An Accident
A lapse in coverage isn’t a good enough excuse when an accident or traffic violation occurs. The officer won’t be very receptive to you assuring him your coverage is going to exist soon.
Driving with out car insurance is illegal and could mean tickets, fines, and possibly even suspensions are in your foreseeable future depending on the state. It is not out of the question you be arrested and carried to jail at the scene.
Definitely something to think about before your canceling your current policy, unless being arrested is on your bucket list.
Financial Responsibility
Why does insurance exist? So, when a loss occurs you are not completely held accountable. If an accident were to occur with out coverage you would be on your own to pay the expenses of your car’s damages, your health bills, maybe the other car or cars involved and other medical bills of party injured.
Being forced to hold 100% of the financial responsibility occurred from an accident can be damaging to your credit, your debt and could lead you to potentially end up facing a lawsuit.
What To Do If Your Not Satisfied With Your Auto Insurance Coverage
In most circumstances when their is a lapse in coverage it was preceded by a claim or a frustrating experience with your insurance carrier. When you aren’t satisfied with your insurance don’t act irrationally and drop them!
The best thing to do is to shop your insurance with multiple carriers.
It’s Always Better To Shop Your Car Insurance Over Dropping Coverage!
If you’ve considered dropping your coverage… think again! Shop with other carriers and find better insurance!
Our insurance company would love to help you shop and give you guidance to the best car insurance for your needs and conditions.
Never experience a lapse in coverage, there are far too many repercussions. Shop your coverage with an independent insurance carrier and then drop your current insurance, but do everything you can to avoid a lapse in coverage.