Policy Expiration Date
What is a policy expiration date?
The term policy expiration date is the day when your policy expires. To know your policy expiration date, look at your current policy document. In terms of your insurance, the term policy expiration date is the exact time and date that the coverage of your insurance will end. Policy renewal can also be your option that many insurance companies offer. When you renew your insurance, the new expiration date will be given to you again. Even though you always renew your insurance policy, its coverage will still have an ending. If an individual person conducts a renewal of his insurance policy, the coverage will always be active if he is always paying his premiums. It is essential for you to know the right expiration date of your policy for you to be able to claim the files before the time ends. The expiration of your insurance policy can happen between six months and twelve months after you buy a specific property. For example, you purchase a certain vehicle worth of 500,000 dollars on the exact date of November 12, then you are given a six months policy. Then the expiration date will be in the month of exactly May 12.