Insurance

August 9, 2012

Late Payments and Coverage

Bills. We’ve all got them to pay each month but one of the most important bills to pay on time is your insurance premiums. It is critical to make your insurance payments on time to avoid a potential lapse in coverage. If you let your policy lapse it can have big, long-term consequences. Missed payments and a lapse in coverage can lower your credit rating significantly, making it more expensive to get car insurance in the future. What’s the worst case scenario? Driving without insurance is also against the law and you will be personally liable if you have an accident. You can lose your home and your future earnings could be effected. I recommend having your insurance taken out each month by automatic draft. […]