If your car insurance policy has expired, you may be able to reinstate it, but you will likely have to pay a penalty fee. In the meantime, it is time to shop for a new policy. Not renewing your policy will result in higher premiums, as insurance companies will charge you more for being a risky driver. If you have a new vehicle, get a new policy before driving it off the lot.
Renewing an expired car insurance policy now is advantageous for several reasons. If you are a high-risk driver, driving without insurance can make you ineligible for car insurance. Plus, you can face increased premiums if you don’t have coverage on your car. An expired policy can also lead to higher costs. Insurance companies will be more likely to charge you more money if you are a high-risk driver.

Benefits of Renewing An Expired Car Insurance Policy
In addition to higher premiums, an expired car insurance policy will also result in a reduced no-claim bonus and reduced discounts. Missing out on the renewal date will cost you more money, and you will be liable to pay a high amount of money for the policy. By taking proactive steps to renew your insurance policy, you can avoid these issues. Further, you’ll enjoy several other benefits, such as cashless claim settlement, car roadside assistance, and more.

Better Deals for Renewing of Invalid/Expired Car Insurance Policy
Getting a new policy before the expiration date means receiving a better deal. When your cars insurance policy expires, you’ll have to pay damages, which can prove costly. This is particularly true if you have an older vehicle. Also, you will lose any NCB you’ve accrued over the years. The good news is that if you renew your expired policy, your no-claim discount will increase every year.

Method of Nonrenewal of an Expired car insurance policy
Depending on your state’s insurance law, your insurer can refuse to renew your car insurance policy for several reasons. For example, your insurer must give you at least 30 days’ notice before canceling your coverage. As in some states, it must be 45 days in most cases.
Nonrenewal of expired insurance isn’t the same as lapsed coverage. However, insurers must give notice before cancellation to policyholders to make alternative arrangements. In addition to the policy’s expiration date, insurers must state their reason for canceling your insurance policy. In some cases, you may have been deemed a high-risk driver because of multiple claims, a history of moving violations, or other factors.
More Details: Car Insurance: 11 things to check before buying a policy