subject: How to Reinstate a Lapsed California Auto Insurance Policy [print this page] How to Reinstate a Lapsed California Auto Insurance Policy
As the overall cost of living goes up for everyone, incomes are becoming less and less able to meet the necessities of the individuals and families that count on that money to get by every month. There are often cases where people cancel their car insurance and keep the car parked in the driveway, opting instead for public transportation to get around. However, if a pleasant turn of events results in a higher paycheck for you and the ability to begin driving your car again, you are left with a canceled California auto insurance policy. What are the steps to have your canceled insurance reinstated?
There are a few methods you can take, but usually the easiest route is simply to buy a new policy altogether. There are many California auto insurance companies that will give you free quotes so you can decide the best priced plan for you. In fact, since canceling your old policy, you may be able to find a better deal than you were paying before as long as you conduct your research properly. The best way to compare rates in order to find the best deal is to get online and utilize a helpful insurance rate comparison site.
The next option is to reinstate your old policy. In most cases, this is only an option for up to 30 days after canceling your policy. If your policy was canceled less than 30 days ago, you will be asked to sign a statement of no loss. This means you cannot file a claim to the insurance company for the period of time your insurance lapsed. Be aware that some companies will charge a reinstatement fee. For this reason, it may be in your best interest to investigate the rates that other California auto insurance companies are offering to see if you can find an even better rate without a reinstatement fee.
The chances that motorists living from paycheck to paycheck will face a time when they cannot pay their California auto insurance premiums are not unlikely in this economic time. Be sure that you understand that allowing your car insurance to lapse while still driving your car is illegal, and even if you keep your car off the streets, you can face trouble reinstating your policy if you allow it to lapse for more than 30 days. A new policy may be your best option, so begin comparing rates today.
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