First, it is necessary to bear in mind that insurance is paid in advance, before the enjoyment of coverages, so the paid premium will cover all that year. If you do not pay the insurance, the vehicle remains unprotected.
Secondly and except of advance notice, the policy is automatically renewed. The period that is necessary to warn whenever there are will be specified in the policy, however, the term is usually two months.
To prevent non-payment of insurance it is necessary for the user to arrange payment of insurance income capacity, avoiding an excessive accumulation of costs that take you to not pay the insurance premium.
month of grace to prevent not to pay the insurance
When the user decides not to pay the insurance, it is necessary to keep in mind that the insurance company has the obligation to grant a month's grace to the client, during which the company will continue covering the user. However, once that month the customer will no longer be insured; However, it is important to mention that although the coverage is lost, the customer has five months to pay and retrieve your insurance.
In the case of motor vehicles, the fine for driving without insurance can ascend, being completely unprotected in case of accident. The consequences of driving without insurance motor not only is reckless, an illegality, so the consequences go beyond economic consequences.
An option to avoid not paying insurance pay in installments
One option to avoid not paying insurance is to split the payment of the premium. Most insurance companies allow the semi-annual, quarterly and even monthly payment. However, fractionation is a surcharge that raises the premium can reach 30%.
It is important to have this pay a quota equivalent to not pay the global amount of insurance, since which despite the facilities the first annual insurance is considered to be an indivisible set.
The company claims against non-payment of insurance
During the six months following the expiration of the premium, the insurer has the right to claim payment of the sums of the policy that the insured has not paid the user via Executive. However in the majority of cases the costs of procedure incurred by do not compensate for and try to prevent the Executive process.
In general, the insurance company is limited to terminate the contract, this being the only consequence for the customer in case that there is no claim in the aforementioned period of six months. Do you have doubts when choosing insurance and don't know what coverage is, With this basic guide to insurance, you can resolve them. What is insurance, what kind of insurance are there: life, death, car insurance, home insurance insurance insurance,, are the insurance mandatory, how to claim to my insurance.
