Lapsed insurance cause I canceled for financial reasons help
by Angie
I canceled my insurance back in Aug of this year afer being with the company for 4 and 1/2 years with no issues. I have never had anything on my record or made a claim on my insurance. anyway I canceled it because i ran into finacial dificulties and thought my vehicle was being reposessed due to conversations with the finance company.. Now Nov. I have found out my vehicle will not be reposessed and with money being better now, I want to put this vehicle back on the road. The company has now told me that my insurance will be 200 dollers more a month because "i could have been driving with out insurance" which I have not been doing. Vehicle has been park since a week before I canceled the insurance. Lapsed CoverageA lapse in coverage of less than a year is not supposed to affect your rates. But if you were cancelled for non-payment that will affect your rates. Please be sure to discuss this further with a licensed insurance representative. Check rates here: Other Pages of Interest car insurance in Ontario Canada Car Insurance Canada Car Insurance Quote Canada Auto Insurance Questions Or Ask another question at Ontario Auto Insurance Questions and Answers Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page. |