Having a lapse in car insurance while you’re still driving your car can impact your wallet hard, and for a long time! Aside from the cost of the ticket, there’s a chance of having your license suspended and then having to pay a fine to reinstate it. You may have to file a SR-22 (Certificate of Financial Responsibility) for a certain period of time, and this has a per-policy-term fee. There’s also the possibility of having your new auto policy surcharged three to five years for the ticket you received, and having an overall higher rate of insurance for the lapsed coverage. The effects can vary from state to state, so check with your local DMV.