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Can you reinstate car insurance that was canceled for non-payment? It depends. Some insurance companies will allow you to reinstate your policy if it gets canceled, while others will not.
Even if you intend on finding a new car insurance company, missing payments entirely could lead to poor payment history and make securing affordable rates more difficult. Similarly, if you have ...
For instance, if your car's value has dropped to $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is totaled or stolen.
A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. [3]
The insurance company will ordinarily pay the judgment, up to the policy limits, once a court determines that an uninsured motorist was at fault. Some states' laws also allow additional insurance coverage to the insured policyholder through policy stacking provisions, whereby a claim may be made against multiple uninsured motorist policies.
Auto insurance is a legal requirement in most states, and so paying for your coverage can feel like an obligation — like a tax or utility payment — with most drivers setting up their policy ...
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