Candace Baker, Car Insurance Writer
@candacebaker
Yes, Farmers has a grace period of 30 days for payments. During the grace period, policyholders can pay their past-due premium in order to avoid a lapse in coverage. If the grace period ends without the necessary payment being made, Farmers will cancel the policy. Even if the policyholder pays the balance within the grace period, Farmers will still charge them a $10-$15 late fee.
If you miss a car insurance payment, Farmers will usually send you a notice of cancellation that includes the final date that they will accept payment before your coverage is canceled. Since almost every state requires you to have car insurance, a lapse in coverage could lead to serious consequences, including fines and even a license suspension if you’re caught driving. Additionally, going without insurance may designate you as a high-risk driver and can make car insurance more expensive in the future, so you should pay your car insurance premium before the final cancellation date.
Learn more about car insurance grace periods.
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Does car insurance have a grace period for late payments?
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Hi Candace, can you provide a reference for this? I couldn't find it in my farmers policy or on their site. Thanks!