All About Safeco’s Grace Periods
If you miss a payment with Safeco, you’ll have a grace period of up to 25 days before your policy is canceled.
Written by Claire Beaney
Reviewed by Shannon Fitzgerald
Depending on the state you live in, Safeco's grace period will give you up to 25 days to make up a late payment. Safeco will cancel your policy if you don't pay your bill by the end of this period.
It's a major issue if your insurance coverage suddenly ends. Not only will insurance companies consider you a higher risk with a coverage lapse, but you could also face hefty penalties if caught driving without insurance. That's why it's crucial never to skip a payment—doing so might increase your premiums for months or even years to come!
However, things like late payments, unforeseen costs, and forgetfulness are all part of life. This is why Safeco provides a grace period for late insurance payments.
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Does Safeco give you a grace period after your auto insurance expires?
Yes,
Safeco
provides a grace period for late payments. It will change depending on the state, but you’ll have up to 25 days after your due date to make your payment and maintain the status of your insurance policy.Safeco, and actually, all insurance companies, are obligated by law to notify clients prior to the cancellation of a policy. The cancellation notice will indicate the final due date for your payment and can be sent via email or mail.
You must make every effort to submit your payment before the grace period ends. There is a late fee if you don’t pay by this point (in the case of Safeco, it's just $15), but it's nothing compared to the costs you could incur if your insurance coverage were to be canceled.
So, let's say you cannot pay your bill in that time frame. In that event, Safeco will terminate your policy and the coverage ends. Since driving without insurance is illegal, park your car in a safe location until you can get your policy started again. While the specific consequences for
driving without insurance
vary by state, you can expect hefty fines and a possible license suspension.What are the benefits of a grace period?
Insurance premiums can be affected by a lapse in coverage
, so a grace period is a helpful way to avoid that. However, your car insurance premium may increase by as much as 8 percent after just one month without coverage, and the longer the gap, the more your rates may increase.Safeco continuous insurance discount
The company offers a discount for maintaining continuous insurance coverage for customers who have been with Safeco for at least a year. If you allow your policy to fall into cancellation status and then fail to pay in full before the grace period ends, you will no longer be eligible for the discount—with the exception of active-duty military members whose coverage lapsed because of an overseas deployment.
How long is a typical grace period for car insurance?
Not all insurance companies allow for a grace period on overdue payments, but those that do typically give between 1-10 days to pay up. Those who have difficulty making their monthly car insurance payments will appreciate Safeco's generous grace period of 25 days (depending on state law)!
Consequences of a car insurance lapse
If your car insurance policy expires, what exactly happens? Depending on where you live, if your car is financed, and how soon you can regain coverage, the possible consequences could include:
- Fines: Most states have high penalties for drivers who do not have insurance. For a first offense, the fine is usually between $500 and $1,000. For a second or third offense, however, the fine can go as high as $5,000 in some states!
- License suspension: If you drive without insurance, your license can be suspended in every state exceptCalifornia,Iowa, andWashington.
- Higher car insurance rates: Auto insurance companies will see you as a "high-risk driver" if you let your coverage lapse, so expect to pay high rates the next time youshop online for car insurance quotes.
- Vehicle repossession: If your insurance coverage lapses, your lender might tack on their own insurance to your monthly car note and repossess your vehicle if you can’t afford the new, higher payments.
What to do if your Safeco car insurance lapses
If you need more time to pay your bill or find out too late that your Safeco car insurance policy has ended, call 1-800-332-3226 right away to see if you can get it reinstated.
After speaking with an insurance agent and making your payment, you may be able to regain your coverage in some instances. If that fails, it's time for a new policy! You can buy that policy directly from Safeco, or you can use the
Jerry
app to find the lowest auto insurance quotes based on your driver profile (even with the lapse in coverage).Don't forget to contact the Department of Motor Vehicles (DMV) in your state once you have insurance again to update your policy details. Make sure your new policy meets the legal limits for all types of car insurance your state requires. In
New York
, for example, you need both basic liability coverage
and personal injury protection (PIP)
.How to avoid a coverage lapse
Stay on top of your policy's payment due date and consider enrolling in Safeco's automatic payment plan to avoid an expensive lapse in coverage. In addition to saving you money, setting up automatic payments for your insurance premium could help you avoid late fees and other penalties. You can use a credit card for autopayments.
Safeco can also be very flexible with due dates as long as you notify them ahead of time.
Another way to keep your Safeco policy from being canceled is to get lower insurance rates with
Jerry
. You can find out if you qualify for lower rates on the coverage you need, taking into account your driving record, credit score, and other factors, in just 45 seconds!MORE: How do I get car insurance for about $50 a month?
Safeco insurance grace period for new cars
Drivers who have recently purchased a vehicle have another type of grace period offered by Safeco. Of course, you'll want to add that car to your insurance immediately, but buying a new car can be hectic, and sometimes people just forget to. Depending on your state, Safeco offers between 14-30 days to update your policy with your new car. If you are involved in an accident during that time, your new automobile will be insured with the same limits as your previous vehicle.
Remember that if you had or have an older car with liability only coverage, your new vehicle will only have liability coverage. If other cars on the policy or the prior car had
comprehensive coverage
and collision coverage
, that protection would extend to your new vehicle with the same deductible
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How to find the best Safeco car insurance quotes
If you have Safeco insurance, you may have gotten the best deal on your coverage—or you may be unknowingly spending more than you need to. Either way, it’s always a good idea to use the
Jerry
app to shop for a new policy.It's easy: just download the Jerry app, and in less than 45 seconds, Jerry gets all of your information from your current insurer. Choose from competitive quotes from top insurance companies, and Jerry will take care of the rest—even helping you
cancel your Safeco insurance
if need be!The savings keep coming even after Jerry finds you great insurance at the lowest price. Before every policy renewal period, you’ll be presented with new competitive quotes, which means you’ll always have the best coverage at the best price.
“I moved states recently and my old provider didn’t cover me anymore, so I tried usingJerry. They handled everything from fetching the quotes to purchasing the new policy. Now I save $30 a month with Safeco!” —Kay J.
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