Auto Insurance

Do you owe an insurance company money for the grace period?

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Wiki User
2006-10-09 10:09:37

Yes. If you add a vehicle within the 30-day grace period, you

will be charged a premium for that time. In other words, you still

pay for the coverage even though you added the vehicle some time

after it was acquired by you. The grace period just means that the

insurer will still cover it between the time you acquired it and

the time that you notified them (as long it was within the

prescribed time limit) and not require you to notify them first.

This would make it difficult to register newly acquired autos.

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