Expired Car Insurance Policy Chicago IL

Reader’s Question:

I went to my insurance company to verify claims and coverage after I had an accident a week ago. I found out though that my insurance claims had expired by about 2 weeks. Does Illinois state law for car insurance acknowledge grace period of at least 30 days?

Mark

Chicago IL

The Illinois Division of Insurance doesn’t require insurance companies registered in the state to give grace period to the insured. Grace period here is defined by the state as the time period at which the insured may pay the premium after the due date without penalty, granted independently by the auto insurance company. The Illinois division notes that if the insurance company have a renewal policy and/or your policy premium has been due for 60 days, your insurance company may cancel it at any point, if you fail to pay within the due date.

You may have to check with your insurer of their policy in regards to grace period if they do have one and that if its possible to be reinstated once you’ve made payments on your premium. Also check if they have a corresponding penalty for late payments and what is required to be reinstated. Only then you will have a chance to file claims for the accident you’ve had.