What are the consequences of not renewing your auto insurance policy on time, and how can you avoid lapses in coverage

If you forget to renew your auto insurance policy on time, you won't have coverage, and you'll be driving illegally. Driving without car insurance can result in heavy penalties, fines, and even the cancellation of your driver's license. In some cases, your car may be seized or destroyed by the police. Even if your car is not being driven, it still needs insurance, and non-renewal can cause your policy to lapse. Your insurer may provide a grace period of between 20 and 30 days, but if you wait to pay your insurance after the due date, you risk paying a late fee or losing your policy.

If you miss a payment, your auto insurance provider may charge you a late fee of up to 15% per day until they process it. If you don't renew with your current company, you'll have to shop around for different car insurance coverage and make sure you have a new auto policy in place for when your current one expires.

Changing your policy address to a state where your insurer does not offer coverage could cause your non-renewal. If you have a DUI, DWI, reckless driving offense, or several speeding violations, your insurer may choose to non-renew your policy, depending on their acceptance criteria.

In summary, forgetting to renew your auto insurance policy can have serious consequences, such as fines, license cancellation, and even car seizure or destruction. It's essential to keep track of your policy renewal date and make timely payments to avoid lapses in coverage. If you miss a payment, you may face late fees, and if you don't renew with your current company, you'll need to shop around for a new policy.