Car Insurance Premium Arvada, Colorado CO

Reader’s Question:

I wasn’t able to pay my car’s insurance premium last week here in Arvada, Colorado. What will happen? Are they going to cancel my policy?

Merrill

Arvada, Colorado

Merrill, well, I understand your position because sometimes these things just happen. Anyway, to answer your question, as far as I know, all of the states here in this country have their own particular set of rules and regulations that govern auto insurance policies. Therefore, for cancellation of automobile insurance policies, your state’s laws surely have some requirements that auto insurance companies follow there in Arvada, Colorado. What you should really do is ask your auto insurance provider to get some information. But in case, you cannot do this for some reason (since you are here on the Internet asking this question), here is some information to give you some idea:

Legally, your auto insurance company has the right to cancel your vehicle’s insurance policy if you are not able to pay them. But they have to send you the required notice for this before they can cancel your insurance. Different companies have different procedures for this. Some auto insurance companies may send you an overdue notice which asks you to pay your dues with an additional late fee. What other companies do is they send you a cancellation notice which gives you a deadline and says that if you make the payment before the said deadline, your auto insurance coverage shall be considered as reinstated and shall remain in effect.

In any case, your auto insurance company has to send you a notice before they could cancel your auto insurance policy.

In the event that your auto insurance provider cancels your auto insurance policy, it is possible for your premium to get reinstated after the effective cancelation date if you pay the overdue premium with any fees that your company requires. However, I do not think that any accidents that you are involved in shall be covered during that period between the effective cancellation date and the date of reinstatement.

I suggest that you call your auto insurance company in order to settle this matter as early as possible.

Tags: auto insurance, car insurance