What Happens If I Stop Paying My Car Insurance?

Congested highways and heavy traffic are what car owners can expect when driving around the Philippines’ crowded thoroughfares and streets, particularly Metro Manila.

Metro Manila is no stranger to vehicular accidents ranging from minor to significant. It makes sense considering the road’s chaotic nature and unruly drivers who choose to make things convenient for them by not adhering to traffic rules. Hence, committing various traffic violations.

Such circumstances combined to make driving dangerous, heightening drivers’ need to take extra precautions to ensure safety. However, even the most conscientious driver is not exempt from such unfortunate accidents.

Without a doubt, auto accidents can impact the quality of life and lead to long-term financial loss. Drivers should have a comprehensive car insurance ph that will protect them should a vehicular accident causing injuries or damage to the vehicle, and other parties involved occur.

While many avail health insurance ph, drivers should consider the importance of auto insurance to save them from impending financial ruin in a car accident.

However, owning one means the insured must be aware of some factors that may affect their auto insurance premiums. It includes demographic factors, driving habits, the policy’s coverage, and chosen deductibles that may affect the price to pay.

At some point, many may feel that they are paying more than what they expect without having to make use of it. While some forget to pay premiums for their respective reasons, some stop paying theirs altogether.

Some insurance providers give a grace period for their clients and still accept late payments. However, it is a different issue if the insured neglects to pay the premiums intentionally. The consequences of missing a car insurance payment can be far-reaching.

If some unexpected expenses hinder you from paying your car insurance or realize you are behind insurance payment, contact your insurance provider immediately.

Otherwise, here are some things that can happen if you stop paying for your car insurance. Click this infographic from iChoose to learn more.