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July 18, 2008, Newsletter Issue #126: Auto Insurance Definitions: Lapse
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Tip of the Week
If your auto is covered by a car insurance policy and, for any variety of reasons, you elect not to renew, the auto insurance policy is considered to be in a lapsed state. The car insurance lapse begins when the current coverage period for your auto insurance policy ends. If, after a period of lapse, you want to renew your car insurance policy, you will be required to go through the standard application process again.
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