"Insurance lapse" refers to a situation when your insurance coverage ends or stops because you have not paid your premium by the due date. During an
insurance lapse, you are no longer protected by the insurance policy, which means the insurance company will not cover your claims or expenses during this time.
Full definition
Synonyms for individual words can be found below.
«insurance»
«lapse»
Phrases with «insurance lapse»
Sentences with «insurance lapse»
- As a result, many people will simply let the life insurance lapse because it does not fit into the budget. (termlife2go.com)
- While forgetting to pay a common bill can cost you a late fee, letting your auto insurance lapse because of a missed payment can cost you a great deal more than that. (freewayinsurance.com)
- More and more residents are letting their car insurance lapse despite the mandatory coverage law. (insure.com)
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sentences)