LOS ANGELES, April 21, 2019 /PRNewswire-PRWeb/ -- Compare-autoinsurance.org has released a new blog post that explains why drivers should avoid car insurance lapses.
Drivers are required to carry insurance permanently. A period of time when the driver does not have coverage is called a gap or a lapse. Having a history of coverage lapses will make the next underwriting process more difficult and premiums costlier.
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- Causing an accident while uninsured will have multiple legal consequences. Being uninsured while driving and causing an accident is a severely punished felony. Without coverage, the at-fault driver will have financially compensate the victims from his own finances. The repair cost and the medical bills can reach several tens of thousands of dollars.
- Avoid fines and legal penalties. Drivers caught driving during a gap period will receive hefty fines. Furthermore, they will receive license points. All of these combined will make future premiums extremely expensive. The driver will have both a history of lapses and traffic violations.
- Avoid being classified as a high-risk driver. Companies ask about past coverage when assessing a person's insurability profile. Persons with recent coverage lapses are automatically considered high-risk and asked to pay more. Keep in mind that insurance companies may ask the previous insurer about a former client's payment history. Furthermore, a company may decide to cancel the policy after several missed payments.
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