Candace Baker, Car Insurance Writer
@candacebaker
No, Travelers does not have a grace period unless it’s required by state law. In states that don’t have a mandatory grace period for late car insurance payments, Travelers may cancel a policy as soon as a payment is missed. But if there is a mandatory grace period, policyholders can pay their past-due premium within a certain time frame in order to avoid a lapse in coverage.
If the grace period ends without the necessary payment being made, Travelers will cancel the policy. If you are able to pay the bill before your policy is canceled, Travelers will charge you a late fee, though the exact amount depends on your state.
Consequences for Missing a Travelers Car Insurance Payment
Cancellation Notice
Travelers will usually send a notice of cancellation that includes the final date they will accept full payment before your coverage is canceled.
Penalties From the State
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.
Insurance Premium Increases
A lapse in coverage 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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