Carrying auto insurance is a necessity for any car owner in the state of Colorado. Not only is this required by law, but it also offers ideal coverage that can prove to be quite helpful in some situations. While you may have insurance today, there will come a time when the policy expires. When this happens, it is very important that you either renew it or enter into a new policy. A variety of negative outcomes could occur if you do have a lapse in this insurance.
Face Punishment
One challenge that could arise if you have a lapse in coverage is that you can face punishment. Those in this state are required by law to carry auto insurance. If you do not have the minimum level of insurance, you can face various penalties including fines and even loss of driving rights. Further, you may find yourself in default on a car loan agreement.
Lose Coverage
With a lapse in coverage, you will also lose coverage in your insurance. An auto insurance plan can be designed to protect both you and your vehicle. In many situations, this offers very helpful financial protection. If you do not have the right insurance due to a lapse, you can lose your coverage entirely. This could require you to cover such costs out of pocket.
Consult With Us
If you do not continue to carry a full auto insurance plan in Colorado, there are a variety of potential negative outcomes. Because of this, you should always ensure you are current with your insurance. When you are looking for a new plan, you can call our team at Laine Insurance. At Laine Insurance, we will always work hard to ensure you choose an auto plan that is right for your situation.