Every year we have clients who forget to pay their insurance premiums and their coverage then lapses.  Most agencies will not notify you when this happens.  The reason is our Errors and Omissions insurance company tells us not to.  The reason for this is if we do notify everyone when their insurance cancels every time and then we forget to do it one time, we could be held liable for any loss that occurs while coverage is lapsed.

 My recommendation would be to put your premiums on Automatic Withdrawal payment from your checking account.  I’ve had clients tell me they don’t want to do this because they may get an overdrawn fee if they forget the money is coming out.  In my opinion, a $25 overdrawn fee (or whatever it is now) is MUCH BETTER than an auto accident where you are sued for thousands of dollars with no insurance protection. 

 This should apply to all of your insurance premiums.  Including life insurance, home insurance, auto insurance and any business insurance.