Insurance 101

What is an insurance due date?

due dates in insurance

An insurance due date is the date by which an insurance policyholder must make a payment to keep their insurance policy active. Insurance policies typically have a fixed term, such as six months or one year, and premiums are usually paid on a regular basis throughout the term. The due date for each payment is typically set by the insurance company and specified in the policy agreement.

If a policyholder misses a payment or fails to pay by the due date, their policy may lapse or be canceled, which means that they will no longer have insurance coverage. It is important for policyholders to pay attention to their insurance due dates and make timely payments to avoid any interruptions in coverage. Some insurance companies may offer a grace period after the due date, during which a payment can still be made without penalty, but this can vary depending on the company and the policy.

Disclaimer: The questions and answers above are for educational purposes only. They are meant to provide the public with a general conceptual understanding of insurance and do not constitute advice or analysis. Some answers might be incomplete, outdated, and even not always accurate depending on the particular rules applicable to your state. Importantly, these questions and answers are generic and do not relate to any particular insurance product, including products available on the Waffle platform. If you have any questions about any of your own insurance products, always check the policy first and direct your questions to your insurance agent or the insurance company underwriting your policy.

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