Expiration Date

This is the date the policy expires and you no longer have coverage. When you examine your policy declaration or the "pink card" for your vehicle policy it is important to note that the policy expires at 12:01 a.m. on that given day. So showing up the next day to replace insurance will have you driving to the office without insurance!

Normally insurance companies will offer renewal 30-45 days ahead of the expiration date. If you have not made payment on the account then a notice is sent to you. This notice will state that you have a certain amount of time to pay or the policy will be lapsed. This does not apply in all policies. Some insurance must be paid on the date of renewal or it will not be extended.

If insurance is not going to be renewed due to an underwriting decision then you should receive notice of this from the insurance company or your agent or broker. You must then take steps to replace the insurance.

Ask your agent or broker what steps are necessary for your individual renewal process. If you are planning on shopping for better prices then it is a good idea to give your adviser some time in advance to check the markets.