Duliban Logo SVG

About Us

History

Resources

Join The Team

Give us a call

Send us an email

We have a 4.8 rating from over 600 reviews

I have a Cancellation for Non-Payment on my Insurance Record. Now What?

Have a Cancellation for Non-Payment on your insurance record? Here’s how it affects you.

March 25, 2021.

Cancellation for Non-Payment on your insurance record can have serious effects on your insurance record and credit score. Missed a payment or have a Cancellation for Non-Payment on record? Find out how this impacts your insurance.

So, you’ve missed an insurance payment. Now what?

Unlike more frivolous spending, such as the latest gaming console or impulse Amazon purchases (we’ve all been there!) insurance is something you have to have, and hope you never need to use. Non-payment of premiums on insurance policies has harmful effects on your insurance and credit score.

For bills such as cellphone, electricity, gym memberships, missed payments, though not ideal, are less concerning. Often, missed payments will be met with a late fee and additional workaround to rectify. This is not the case with insurance, as missed payments have serious actions, including a “Cancellation for Non-Payment” note added to your record. If you are considering missing a payment, or have already, here is how a Cancellation for Non-Payment can affect your record:

Void Coverage

When your insurance policy is cancelled for non-payment, your coverage is no longer valid. If you have auto insurance, this means you can no longer legally drive your vehicle. Operating your vehicle without valid insurance poses a significant threat in the event of an accident, interaction with law enforcement, etc.

Ripple Effects

If your policy is void for non-payment, it has ripple effects. Many insurance providers will not issue coverage if there is more than one Cancellation for Non-Payment on record. This is because:

Firstly, your history of missed insurance payments causes concern for collecting payments. Keeping a close eye on your account to ensure documentation and payments are met will require more labour, equalling a higher cost on their end.

Secondly, individuals with a Cancellation for Non-Payment on their record are statistically more likely to be in an at-fault accident than those who do not.

If you have a notice of Cancellation for Non-Payment attributed to your insurance record, you are still eligible for coverage however, it will come at a much higher premium. Insurers with this notice are viewed as high-risk to insure by providers. On occasion, insurance providers may request that the full premium be paid in full upfront.

Do you currently have a Cancellation for Non-Payment on record?

Don’t stress, we will work hard to have you covered. While your options will vary based on your record, the team at Duliban Insurance Brokers will shop the market for the best discounts and coverage available. We work with providers who specialize in high-risk coverage and can provide coverage to clients with non-standard records.

Life happens. If you are struggling to make, have missed, or bounced payments, speak with one of our trained insurance professionals. With a little guidance, our team will assist you in securing coverage so you can re-build your insurance record. Once your record is in good standing, our team will shop the market for a standard policy with more discounts available to you.

Questions about coverage? Your Hometown Broker is here to brighten your day. Get in touch with us here.

related blogs

Read related blogs

Our blog is packed with the tips and tricks you want to read, and deserve to know.

7 Steps After Tagging

If you’ve recently added a tagging device to your vehicle, it’s essential to inform your insurance company to potentially benefit

As summer approaches, many homeowners are looking for creative ways to make the most of their backyard oasis. One emerging

At Duliban Insurance, we understand that being involved in a car accident, even a minor one like a fender bender,

Vehicle Theft

Vehicle theft remains a significant issue in Ontario, with increasing rates affecting not just car owners but also the broader

At Duliban Insurance, we’re dedicated to keeping you informed about the latest developments that may affect your auto insurance coverage.

Are you considering renting out your cottage this summer? Whether you can’t make it up as much as you planned

About Us

History

Locations

Meet The Team

Resources

Our Insurers

Claims

Referral Program

Blog

Join The Team

Careers

Contact

Auto

Classic Car 

Electric Vehicle

High Risk 

Motocycle

Ride Sharing & Uber

Home

Condo

Airbnb

Cottage

Landlord

Tenant

Business

Small Business

Commercial Auto

Commercial Property

Contractor

Cyber

Liability

Farm

Recreation

RV

ATV & UTV

Slingshot

Snowmobile

Boat

Tractor Protect

Mich Stars

We have a 4.8 rating from over 600 reviews