If you miss the car insurance bill payment, you might be dragging yourself in risk, as if a collision occurs then your insurance company will not cover you. The consequences of being delayed can end up as costly affair.
It depends on your insurance provider whether he denies or accepts your claim but the chances of claim being rejected are more. You will have to pay hefty amount for the repair cost which you might have not been paid if the insurance bill was cleared on time. If the installment remains unpaid for more than 14 days then the insurance company will refuse the claim. In case the installment remains unpaid for more than a month then your insurance policy will get cancelled automatically.
Usually the insurance provider sends the notice to the insurance owner about the delayed payment. But if the motorists don’t take it seriously, the policy gets cancelled with time without informing the driver.
You can remain safe and have no worries regarding the insurance bill payment if you approve your insurer to withdraw the funds from your bank account. Be sure always to keep enough money in the account whenever any insurance payment is due.
You can also inform your insurance provider to keep you updated if any installment is missed or get delayed. This way you can arrange alternative temporary arrangements at the date of installment payment for your car insurance policy.
If you think that you are paying more of the insurance premium and your budget can’t afford it then you can shop around and look in the car insurance comparison site to get good insurance quotes according to your needs. The car insurance is necessary for the health and finance safety as this way you can drive safely on road.