You might have heard this before, but you may not: Yes, you can put your auto insurance on hold to avoid paying a late fee. If you are renewing your insurance, however, you will need to put your auto insurance on hold during the renewal period. This means that you will have to pay for insurance during your insurance renewal period, even though you never had to sign up in the first place.
There are several situations where you might want to put your car insurance on hold. For instance, if you are moving from one state to another, or if you have already cancelled your insurance for whatever reason, you might be able to do this without incurring any penalties. In some cases, when an individual or a company wants to cancel his insurance for whatever reason, he must contact his current insurance company and submit a written request to have his auto insurance canceled.
Another situation where you might want to put your auto insurance on hold is if your current insurance provider requires that you have a minimum amount of coverage at all times. In these cases, it is not required that you actually have insurance to drive your car; you will be given the option of purchasing insurance as an alternative.
If you have an accident, and you have not yet obtained auto insurance for that particular vehicle, you will likely have to pay your expenses out of pocket. If you live in a state where it is against the law to drive without insurance, your insurance provider will require that you purchase insurance for the vehicle before you leave the scene of your accident. This is known as “medical payments” coverage. In some states, this type of coverage is a requirement if your vehicle is totaled in an accident.
If you have been driving without auto insurance for a period of time, and you have had a traffic violation, this may result in you being placed on a waiting list to purchase car insurance. While you are on the waiting list, and if your credit rating is low, your credit card issuer may refuse to let you buy any new cards, so if this happens to you, make sure you buy your insurance as soon as possible.
Many companies require that you have your waiting period to expire within a certain period of time, such as two to five years. If this happens to you, it is best to check with your insurance provider to see if they will extend the waiting period on your existing policy, so that you don’t have to pay the full premium for it again.
Finally, some insurance companies require that you pay for coverage even if your vehicle has not been involved in an accident or has been vandalized. If this happened to you, there is still a possibility that you might get approved for coverage by your insurance company.
In many cases, the insurance company will be more than happy to extend your waiting period, especially if they feel that you are a high risk, or are just bad drivers. They will also work with you in order to get you the amount of coverage that you need.
In most cases, the insurance company will want to know what your credit rating is before approving your insurance policy. If it is a few months old, you may have been denied coverage because of your low credit score.
The good thing about obtaining auto insurance while you are waiting to purchase car insurance is that most insurance companies will cover the policy until it is paid in full, even though you have not driven for a while. Most of these policies will provide for the vehicle until it is covered under a collision or comprehensive plan.
You should contact your insurance provider’s website in order to determine if they will provide you with a free quote, so you know what the cost will be for your coverage. Even if you have not driven a few months, but only for the period of time you were waiting, you may be able to obtain coverage at a lower rate by asking for a cheaper quote from another company.