Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Car Insurance Terms and other Car Insurance topics.
Your car insurance policy term is the time between the start, or inception, of the auto insurance policy until the end, or termination, of the policy.
A car insurance policy lapse, for example, occurs when your current auto insurance policy ends and you do not, for a variety of reasons, renew. In this example, your auto insurance policy term has ended.