Missing a car insurance payment can put you in a difficult spot, but it is important not to panic. Here are some of the potential consequences of missing a car insurance payment:
Your car insurer may cancel your policy, which can leave you without insurance coverage.
If you are in an accident without coverage, you may be liable for damages yourself.
Your premium may increase if you cannot pay the full amount.
You may face late fees if your payments are behind.
Your credit score may go down if you miss payments.
Given the potential consequences, it is important for drivers to avoid missing car insurance payments. To do so, you can:
Auto-pay your premium regularly.
Set calendar reminders for yourself.
Contact your insurer if you anticipate missing a payment.
Look for ways to lower your premium.
Ultimately, it is important for drivers to stay on top of their car insurance payments. If you find yourself in a difficult spot, contact your insurer and look for ways to ease the burden. For more information, you can read this guide from The Zebra: https://www.thezebra.com/insurance-guide/missed-car-insurance-payment/.
