Having your car insurance expire can be an uneasy feeling. It’s an unfortunate reality as human error happens to the best of us. Still, it’s always in your best interest to avoid having a lapse in your coverage for multiple reasons.
Colorado drivers may even consider ignoring their car insurance expiration date, for whatever reason, but in the end, it only leads to unnecessary added risks and costs. Both, which can be avoided and help drivers stay safer while traversing The Centennial State.
There are many reasons to avoid driving with expired car insurance and having the right insurance company can help you along the way. Here at Freedom Insurance Group, we help our clients stay on track so that they avoid lapses, save money, and can drive with peace of mind.
A car accident after insurance expired is an expensive mistake. Learn more on the exact time your coverage expires, how to avoid a lapse in coverage, how to save money when it’s time to renew, and more below.
When Does Car Insurance Expire in Colorado?
If your policy has a date of 6/15/23 and you’re in an accident on that day, you’ll likely find that you have no coverage because your car insurance expired. Colorado drivers will need to be aware that their coverage ends at 12:01 am on the expiration date provided by their policy.
This should be taken quite literally because even considering the car insurance expired grace period, you’ll unlikely be covered by an accident even if it happens at 12:02 am. The grace period Colorado drivers may have applies to the payment of premiums not the availability of coverage.
Can I Renew My Car Insurance Before It Expires in Colorado?
Yes, not only can you renew car insurance in Colorado before it expires, but it’s always the best practice for doing so. In most cases, your auto insurance coverage will last either six or twelve months and should be kept current as a driver to avoid lapses in coverage leading to a litany of risks.
Can I Cancel My Car Insurance Before It Expires in Colorado?
If you’re wishing to cancel your policy before your car insurance expired, then you can. It’s possible that you may incur penalties depending on your policy, the timing, and your insurer, but cancellation is available at any time. Just make sure you read your policy’s terms and conditions before doing so.
Another situation in which drivers may find themselves is non-renewal. There are many reasons why drivers can have their policy not renewed by their insurance company, but it’s important to note a few things:
- Not being renewed doesn’t mean a cancelation, only that your current company won’t want to sign you back up as a client once your policy’s term is done.
- You’ll still receive the same level of coverage until your auto insurance expires.
- While you can still cancel your policy if you wish, the best practice will likely be to remain on your coverage and find another insurance company to take over once your policy expires.
- However, don’t wait until your policy expires to do so. Begin shopping as soon as you know you aren’t being renewed by your current carrier.
This is actually a great opportunity for Colorado drivers, as shopping around for coverage is the best way to ensure that you find the lowest rate for your coverage. It’s also a good reminder when it’s time to renew coverage, even if you are thinking about going back with your same company.
Dealing with a car accident and the other party has expired insurance is a pain. Therefore, if you are the party without current coverage, expect to deal with the same issues, only more complex and pricer outcomes.
Going Through a Car Accident With Expired Insurance
Enduring a car accident with expired insurance is generally a bad experience. Even if you count exceptions, the normal run of things means that you’ll be subject to expensive aftermath and a lot of frustration. Here’s why:
- If you’re responsible for an accident in Colorado, be prepared to pay if you don’t have a valid auto insurance policy. While drivers with the right coverage gain protection, if your car insurance expires, you’ll be on the hook for the bill.
- This means that if there is property damage, medical attention needed, and/or legal expenses, you’ll have to cover them yourself.
- By not having a valid form of insurance, you can incur tickets and fines from the government, but you’ll also open yourself up to liability. There are many forms of coverage but liability coverage is required by law in Colorado and protects you from such issues.
If your car insurance expired before the accident, your expenses can quickly grow. Be sure to avoid lapses with your coverage and maintain a valid form of auto insurance at all times.
Car Insurance Expired After Accident in Colorado
If you’ve been in an accident, the process can take some time. This means that some drivers may find themselves with expired coverage while still working through their claim. But if you’ve paid your premiums, remained current, and filed your claim while a policyholder, you’ll still be able to go through the process for seeking reimbursement.
The problems arise when you allow your car insurance to become expired before an accident, as mentioned before. Furthermore, even if you don’t renew after an accident, whenever possible, you’ll want to make sure that you avoid lapses in coverage to avoid higher rates in the future.
Car Insurance Expired Fine for Colorado Drivers
Driving with an expired car insurance card in Colorado is a class 1 misdemeanor traffic offense under law CRS 42-4-1409 which comes with a fine of $500 for first-time offenders. In addition to the fine, drivers are subject to having four points on their license and possibly made to conduct 40 hours of community service.
If you are a repeat offender, you may face a higher fine of up to $1,000, as well as the possibility of going to jail for as long as a year. But as seriously as Colorado takes maintaining one’s financial responsibilities as a driver, the aftermath of an accident can be even worse.
Not only are you subject to the possibility of the previously listed penalties, but dealing with a car accident while your insurance is expired means you’ll also have to overcome the liability of the various financial losses you’ll need to restore on top of your legal issues.
How To Find Car Insurance for Expired Policy in Colorado
If your car insurance expired and you have a lapse in coverage, there are still affordable options. But you’ll still likely pay an elevated rate than what you would if you would have maintained coverage concurrently.
However, because each company provides coverage at different premiums, it’s important to shop around. While one brand may harshly frown upon the fact that you’ve let your coverage lapse, another brand may not see the factor as big of a deal
Therefore, you’ll pay different premiums for the same protection, simply depending on the brand you enroll with. Some auto insurance carriers even specialize in providing drivers with expired policy coverage to help them get a second chance at an affordable price.
Freedom Insurance Group has partnered with many of Colorado’s top-rated insurance carriers to deliver a wide range of auto insurance products to our clients. We can help you save by comparing your protection and identifying the best option for your coverage and your budget.
Our team is also here to help you avoid a lapse in coverage. When it’s time to renew, your agent will be there for you to help you either find another carrier that best suits your needs or keep you on track to renew with your current provider.
Having your car insurance expired in Colorado isn’t the end of the world, but navigating the issue can be a challenge without the right help. Contact us today to speak with a licensed agent that can help you compare your rates and find the lowest price available. You can also use our auto insurance quote tool online.