Q 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.