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Auto Insurance Definitions: Lapse

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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Comments

10/5/2006 7:13:28 PM
Jim Thomas said:

Lapse of insurance should be defined as driving without insuance! What if I do not own a car for a year then buy one and go for insurance? Lapse of auto insurance is skewed to the benefit of insurance companies and does not reflect the true intent!



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