My Beach Legal
Welcome to My Beach Legal!
Insurance Articles
•
•
•
•

Home
:: About Us
:: Contact Us
:: Article
:: Reports
:: Links
:: Site Map

Related Links

Fleet Courier Insurance

Car Gap Insurance

Gap Insurance

Courier Insurance

Goods In Transit Insurance
Consequences of Late Insurance Payments
By Jason Horowitz


Did you realize that it could cost you more than a late fee when you make your insurance payments late? That`s right, not only will you incur a late fee in most cases but also you are jeopardizing your current coverage and possibly your future rates.

Let`s consider what is probably the worst-case consequence of making late insurance payments. If you cut it too close and send your payment too late, you may not even realize that your insurance policy was cancelled. Now you are driving around with no insurance coverage.

Receipt of your payment by the company does not necessarily constitute reinstatement of your policy. You think you`re covered because you mailed the payment but that may not be the case. When the insurance company receives your payment after your policy was cancelled they may return it to you in the mail. In some cases, they may keep it and apply it to any balance you may still owe. You really have no idea what the status of your policy is but are assuming it`s okay because you haven`t received any notices yet and no phone call from the company or your local agent.

Now you have an accident and assume everything is okay because you mailed your payment. You`re thinking "I`m covered" but in essence you are not; you just don`t know it yet. You find out when you contact the insurance company to let them know about your accident and they inform you that you do not have any coverage. You insist that you do because you mailed your payment. They tell you that it was too late and that your money is being sent back as you speak.

Being involved in an auto accident without insurance coverage is not a good thing. You can loose your license even if it was not your fault. Many states have financial responsibility rules that apply to auto accident and can affect your driving privileges regardless of who is considered to be at fault.

Another consequence to consider is the fact that your insurance company may find that after reviewing your payment history that they no longer wish to insure you. They may issue a `non-renewal` notice. This means that they are no longer willing to insure you when your policy expires. You will have to get an insurance policy from another carrier.

It is also possible that your insurance company would be willing to renew your policy but require that you pay in full for the entire term; not giving you the opportunity to make late payments. If you are unable to pay in full for the policy term you may decide to shop for a new policy; however you may find that other insurance carriers could also require that you pay in full.

Consider that you may also damage your insurance credit based score. Many insurance companies review your credit and prior insurance history when determining what rates to charge you. Having made previous late payments on your insurance policy could cost you extra dollars when you buy a new policy. You might have ordinarily qualified for better rates but because you made late payments on your previous policy your new one is going to be surcharged.

Contact your agent or the insurance company if you cannot make your payment on time. They will be able to provide you with information regarding any late fees or cancellation date. They may also be able to provide advice or propose an alternative solution.

Visit http://www.carinsurance.com for Automobile Insurance Quotes

For more information about this article and/or the author visit http://www.carinsurance.com

For more information, news and articles see:

Car Gap Insurance - Car Gap Insurance
...ntil recently. I suppose unless you buy a car on finance you might not know about such policies. As I understand it the car gap insurance covers you in the event of a car being stolen and never recovered or one that is deemed a total loss by the insurers. If you still owe money on the car to a finance company then the gap insurance will pay off the difference between what the insurer says the car is worth and what finance you have left on it. Some of the policies will even leave you with some money to use as a deposit on another car. It`s, probably something that many people would never even consider when they take a car out on finance. If the insurance company decides that the car is worth less than you thought it might be when it is deemed a total loss then you could have to stump up the money to pay off the bal...
Visit Car Gap Insurance...

Courier Insurance - Courier Insurance
...ght be quite costly or important. Losing such document or parcels can mean huge losses for some people. Therefore,Courier Insurance has become an important consideration for any one using mailing services. It is not uncommon for people to lose their mail before it reaches a desired destination. We make sure that your mail is covered sufficiently so that if you happen to lose it while it is on its way, you will be compensated. Many people may not see this as a necessary step until they experience a loss. So, why wait for it to happen to you? Get your insurance now and save yourself from huge losses. ...
Visit Courier Insurance...

Hgv Courier Insurance - Hgv Courier Insurance
...rmally purchase for a delivery business. So there are now insurers who specialise specifically in more complex insurance policys, they are experts in business insurance; therefore they will be able to advise you on all your insurance needs, to make sure you are completely covered, leaving no room for mistakes. The following is a list of the specifications that you may need to include in any haulage insurance cover and what can be potentially covered with the correct policy: Legal liability for injury or death to any other individual, including any such passengers. Legal liability for damage to outside property. Legal costs can be fully covered with the Insurers consent, in connection with an insurance claim against your policy. Your own damage (subject to any excess). Vehicle replacement, in the event of an accid...
Visit Hgv Courier Insurance...

Gap Insurance - Gap Insurance
...many people know what gap insurance is? I know that I had never heard about this type of insurance before until it was brought to my attention recently. The gap insurance covers the deprecation on a car in the event of it being stolen and never recovered. How does it work you might wonder and do you need to take it out if you have outstanding finance on the vehicle? Say you have ten thousand pounds worth of car finance on your car but when it gets stolen the insurance company says it`s only worth eight grand. It means you`ll have to find the extra two thousand pounds to pay off the finance company. If you take out gap insurance on the car, this amount will be covered, so you don`t have to find any additional money to pay off the debt. Most people buy cars and decide to keep them for a set amount of time so they know how much fina...
Visit Gap Insurance...
Click For More Detailed Information on:
my motor 2 u ::your motor 2 u ::my motor pro ::big protection for you ::my motor 4 you
Copyright © 2003-2012. All Rights Reserved.


Valid CSS!