Your car insurance policy won't be immediately canceled because you don't make a payment. Auto insurance companies are required by state law to give notice before canceling their policy. Depending on the state, you'll normally have 10 to 20 days. Your company will notify you by mail or email before canceling your coverage.
When you receive a quote for a new insurance policy, the agent or insurer can pre-select coverage limits or present you with some options. The insurance limits in your policy determine the maximum amount your insurer can pay for claims in each category of coverage. Generally, a higher coverage limit means a more expensive insurance premium, and vice versa. If you're currently insured with another insurance company, you can simply start a new policy with your new car.
In addition, if your policy includes car rental reimbursement and your car is damaged in a covered accident, Progressive will pay the rent (up to a specified limit and term) while your own car is repaired. The main reason why car insurance is mandatory in almost every state is because of your personal liability (liability) if you cause an accident. Every state requires auto insurance companies to declare how they calculate rates to customers, and insurers cannot deviate from these presented rates. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation, or exclusion that is expressly stated in any insurance policy.
You can change insurers at any time, even if you just renewed your policy with another insurance company. That's why it's also important to know how much car insurance you need, so as not to jeopardize your personal assets in the event of an accident. You can pay for your car insurance policy by credit card, PayPal, online check, personal check, money order, or electronic funds transfer (EFT) from your checking account. Auto insurance companies often offer a grace period for late car insurance payments, so a payment that's late by a few days shouldn't be a problem.
For other types of auto insurance coverage, such as comprehensive auto insurance coverage and collision auto insurance coverage, the insurance limit is usually the cash value of the car, which normally takes into account the depreciation of the vehicle. Call your old insurance company and find out if your coverage has expired and, if so, how long you have been without car insurance coverage. Keep in mind that other factors may affect your car insurance rate if you're starting a new car insurance policy. If it's been a few months since you received your quote, the rates in your area may have been revised, which could decrease or increase the price you pay for your car insurance policy.