What are the consequences of not paying car insurance on time?
1 Answers
Different types of car insurance have different impacts. The following are the consequences: 1. Fines if caught and the need to renew insurance before driving. Compulsory traffic insurance is mandatory by the state, and driving without it is prohibited. If caught without it, you will be fined double the premium and must purchase it before continuing to drive. 2. Self-responsibility for accidents. Once the policy expires, it becomes invalid. Without compulsory traffic insurance, you will not be compensated in the event of a traffic accident. 3. Loss of discount eligibility. Compulsory traffic insurance adjusts the next year's premium based on the number of at-fault accidents in the previous year or cumulatively. If not renewed on time, the accumulated years without traffic accidents will be reset to zero.