What Is Car Insurance Lapse in Georgia?
Reader’s Question:
What is the meaning of an auto lapsed policy in the state of Georgia? How much is the fee?
Griffin
Sandy Springs, GA
According to the Georgia Department of Revenue (DOR) a lapse is defined as ten or more days where the records show that your car was not covered by a car insurance policy.
If the auto insurance lapse fee is not paid within thirty days of the letter’s date, the car registration will be suspended. To terminate the suspension, the car owner must now pay the $25 lapse fee in addition to the $60 reinstatement fee as well as show proof of car insurance.
To get more information with regards to an insurance lapse in Georgia you may contact the DOR.
When Does Car Insurance Lapse in Georgia?
Reader’s Question:
What is the meaning of an auto lapsed policy? For instance, if the policy expired on July 1st and a new policy was bought on July 7th of same year, would this be considered a lapse in my policy in Georgia?
Jim
Atlanta, GA
As you are likely aware GA insurance companies must electronically report insurance information, including if your insurance that has been canceled or if there is a lapse.
A lapse is defined by the Georgia Department of Revenue (DOR) as ten or more days where the records show that your car was not covered by a motor vehicle insurance policy. Therefore if you let your auto insurance policy expired on July 1st and buy a new policy on July 7th it would appear that you are within the 10 day gap period that Georgia allows.
When the DOR sees that a car insurance has lapse for 10 days or more a Notice of Lapse Mandatory Liability Insurance Coverage will be mailed to the car owner. You will be required to make a payment of a $25 lapse fee and require you to show proof of valid car insurance coverage within thirty days.
Cheap SR22 Insurance Rates For Sports Cars?
Q: Can I get cheap SR22 insurance for a sports car, or am I kidding myself?
A: Cheap SR22 insurance is a relative concept, so I guess it depends. What you can do is knock down your current premium price by looking into certain money saving options provided by your insurance company. Even a sports car owner can take advantage of these opportunities.
One big importance is the safety of your vehicle. Most new cars come equipped with the latest safety gear, but with sports cars you need to be extra careful since they’re more dangerous. Anti theft devices are also key, especially if you have comprehensive coverage, because a sports car is more likely to get stolen.
If you can find a car club (try looking in car magazines for listings) for your vehicle, become a member. Not only will you increase your knowledge, but you will also save money on your SR22 insurance. With all of these discounts, there’s no reason for you to be paying top dollar on your car insurance coverage.
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