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Insurance Grace Periods | Joe DiCesare | Newburgh NY | Insurance Agency | Defensive Driving Class | Low cost insurance | 845-569-9609

All About Insurance Grace Periods


Insurance Grace Periods

It is important to review your coverage and learn of the specific grace periods surrounding your individual policy.

With most insurance companies, your policy stays in force during grace periods.

Grace periods are extended times in which to pay an insurance premium. This interval can be as little as 24 hours or stretch out to 30 days.

With most insurance companies, your policy stays in force during grace periods. It is important to review your coverage and learn of the specific grace periods surrounding your individual policy. Do keep this in mind – when your insurance grace period lapses and your coverage cancels due to non-payment at the end of this grace period, you no longer have that insurance protection.

What most people don’t know is that every time a notice of cancellation is issued it counts against them and could affect their ability to obtain coverage or maintain preferred rating status. It can also affect a credit rating as insurance companies will report chronic late paying customers to the credit bureaus.
To obtain new insurance coverage you generally must re-apply for another policy. Insurance approval after a lapsed policy may include higher premiums or new conditions.

It is always best to consult your independent insurance agent regarding specifics to your individual policy. These licensed professionals are qualified to help you make the right choices and clarify any confusion.

Call Joe today at 845-569-9609 for the proper coverage and information.

“The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any policies, nor does it provide any guarantees. You should read your specific policy for a complete description of coverage.”

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