Q&A Topics

Friday, July 02, 2010 6:00:03 AM

What can happen if I let my auto insurance policy lapse?

Most states require you to have some form of basic car insurance. So, if a police officer stops you while you’re on the road without insurance, you could be charged a hefty fine or even lose your driving license.

If you let your insurance lapse, it may be difficult to purchase a new auto policy at a competitive rate. You may have no other option than to buy a policy through a state-mandated program.

On the other hand, if you don't have any gaps in your coverage, you may be able to get a loyalty discount from your current auto insurance company.

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Our Insurance Expert

Laura Adams is a personal finance expert, award-winning author, and consumer advocate. As Senior Insurance Analyst, she represents insuranceQuotes in the media and works to make sure consumers protect their financial futures by having the right kinds of insurance.

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