Significance

• Your insurance can be canceled if you fail to make your premiums on time. Your insurance will be canceled when you stop paying. There is a grace period which varies from insurance company to insurance company and state to state.
  
  

Considerations

• If your insurance is canceled you could be subject to a loss if your personal property is damaged in an accident.
  
  

Effects

• An insurance company will cancel your insurance if you obtained insurance through fraud or misrepresentation.
  
  

Features

• When your insurance is canceled your medical expenses and injuries will no longer be covered by your policy.
  
  

Changes

• Your policy can also be changed if there have been notable changes in the insured property since the issuance of the last policy.
  
  

Claims

• If you have a tendency to file a number of claims your insurance can be canceled by the insurer. A bad driving record can also lead to a cancellation by the insurer. Too many moving violations can get your policy canceled because the insurer will feel that you are more of a risk.