Comparion Insurance Agency is the largest personal lines agency in the U.S. Department of State in terms of premiums, with more than 2000 local agents and 180 offices. Comparion is owned by Liberty Mutual, a Fortune 75 company. Most insurance companies have a grace period for late payments, usually about 10 days, but not all insurers or state laws allow this.
After seven days, you'll be charged automatically, and if you can't pay the amount due, Liberty Mutual will send you a cancellation notice. Finally, most major insurers allow you to pay your premium in full in advance or sign up for automatic payment to avoid missing the due dates of your car insurance payments. Allowing your car insurance to expire is considered driving without insurance, and you can face all the legal and financial consequences of driving without insurance. If you have set up automatic payment but don't have enough funds to make a payment, Liberty Mutual allows you to delay automatic payment for up to seven days.
It's also important to note that Liberty Mutual's grace period for new vehicles only applies to current customers. Lying when you say that the accident occurred on Friday after your coverage was restored would be insurance fraud and would be very suspicious for your insurer. If you miss a deadline, you could end up driving without insurance, which could result in legal fees, higher car insurance premiums, loss of your driver's license, and more. On the other hand, if you're buying a car and don't have an existing car insurance policy, it's best to buy insurance before going to the dealer or private seller.
If you currently have an auto insurance policy, most insurers will cover a new car up to the limits of your current policy for 7 to 30 days. If the grace period ends without the necessary payment being made, Liberty Mutual will cancel the policy. This means that current customers have 30 days to officially add a new car to their insurance policy and purchase any additional coverage they may need. Auto insurance grace periods can be up to 30 days, but the exact time you have to make a payment before your coverage is canceled depends on your insurance company and the state.
If you know exactly the car you are going to buy, you can ask the seller for the vehicle identification number (VIN) in advance and use the VIN to buy a policy adapted to that car. Most dealerships require proof of insurance before allowing you to drive out with a car, as nearly every state requires drivers to have car insurance coverage whenever they're behind the wheel. When Liberty Mutual sends a notice of cancellation, it will include the deadline by which they will accept full payment before the coverage expires.