How to Avoid a Lapse in Insurance Coverage
Your insurance policies – whether you have auto, home, life, or business coverage – help protect what matters most to you. But insurance isn’t a “set it and forget it” kind of situation, and your policy can only offer coverage when it’s active. A lapse in coverage can have serious consequences. What exactly is a lapse, and how can you make sure it doesn’t happen to you? Let’s discuss.
What is a lapse in coverage?
In simple terms, it means a break or disruption in your insurance coverage. This can happen for a few reasons. If you forgot to renew your policy, missed a payment, or didn’t update your information when something important related to your policy changed – like an address or vehicle – then this could cause a lapse in coverage.
Whatever the reason, a lapse in your insurance coverage can leave you unprotected. If you have an accident, your home is damaged, or something else that normally would have been covered by your policy happens, you could be stuck with a hefty bill and no insurance to support you.
How can I avoid a lapse in coverage?
Don’t worry. By taking a few simple steps and being a responsible policyholder, you can easily avoid a lapse in coverage, so you can stay protected and keep your peace of mind.
Stay on top of important dates. These include your premium payment dates, as well as your policy renewal date. Set reminders on your calendar, phone, or wherever you’re most likely to see them and take action.
Always update your details with your insurance provider. Not sure what your carrier needs to know about? Your Farm Bureau Insurance of Tennessee agent can talk you through it.
Set up autopay for your bills. This is the most seamless and stress-free way to avoid a lapse in coverage. Learn more about options for paying your bill with Farm Bureau Insurance of Tennessee, including autopay.
You can always check whether your insurance policy is in force (aka, your coverage is active) by visiting your online account. And if you ever have any questions or need help, your Farm Bureau Insurance of Tennessee agent has you covered.
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