Will there be any impact if I buy insurance after my car insurance has lapsed?

[LaIris]

There will be an impact if you buy insurance after your car insurance has lapsed. The extent of the impact depends on how long the insurance has been lapsed and the specific regulations of different insurance companies. The consequences of car insurance expiration mainly include the following aspects: 1. If car insurance expires, you will be responsible for accident compensation. The reason for car insurance expiration may be that the owner genuinely forgot the specific date of the initial insurance purchase, resulting in missing the renewal deadline. Another reason is that some owners take chances—if they haven’t filed any claims in the previous year, they might believe their driving skills are good enough and think delaying the payment won’t matter, so they don’t renew the insurance in time. Unlike life insurance, which has a 60-day grace period for payments spanning decades, property insurance, including car insurance, is renewed annually and has no grace period. Once the insurance period ends, the policy becomes invalid. No matter how short the lapse period is, any accidents or damages occurring during the lapse will require the owner to bear the costs. 2. If compulsory traffic insurance lapses, you will face double penalties. If your vehicle’s insurance lapses, not only will you be unable to claim compensation, but you will also be penalized. Compulsory traffic insurance is mandatory. According to the Road Traffic Safety Law, all motor vehicles must purchase third-party compulsory liability insurance. If traffic police on duty discover that a vehicle does not have compulsory traffic insurance, they will impound the vehicle and impose double penalties. The vehicle will only be returned after the insurance procedures are completed. Since commercial car insurance is not mandatory and follows commercial principles, owners with lapsed insurance will not receive compensation from the insurance company and will have to cover the losses themselves.