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Paying Your Car Insurance Monthly

Many motorists are not aware of the fact that they can purchase their car insurance on a month to month basis. Many car insurance providers traditionally offer three, six, or twelve month blocks in which a coverage can be purchased. Essentially, monthly car insurance is a policy that allows a premium to be paid every thirty days in an installment plan. This reduces the financial burden placed upon consumers by allowing them to avoid paying a policy's purchase price upfront. The option serves as an alternative that a consumer can choose according to their preference. Insurance companies offer this service in order to entice your business.  

Although this may seem to be the most convenient way of maintaining your policy, it is not always the most financially feasible plan for consumers. Most insurance providers offer a discount to motorists who opt to pay the entire amount of their policy's purchase price in one lump sum. If you choose to take advantage of a monthly installment plan, your insurance provider may charge you a fee each billing cycle. Generally, this fee is around ten dollars a month, but it varies among companies. If you purchase car insurance in a twelve month block, this could potentially add up to an extra $120.00 you would pay in fees. If you cannot pay the price of a twelve month block of coverage at once, you should consider purchasing your coverage in three month blocks and paying the price for it all at once. The fees that you will be charged each billing cycle on a monthly installment plan should be an aspect you consider when choosing an insurance provider to conduct business with. Do not hesitate to discuss any questions with an insurance agent.  

By shopping around and completing a quote for your car insurance, you can receive multiple rates from different providers on the policies that you are interested in. By doing so, you can select an insurance company with an affordable rate for the policy you wish to purchase. The more of your premiums that you can afford to pay upfront, the less your payments will be each month. If you cannot afford to pay your premium upfront, you can opt to choose an insurance company with a low down payment. Many insurance companies offer affordable down payments for their customers, and the first installment of a monthly contract is quite achievable. Often times online you can find a policy to purchase that will offer you instant proof of coverage. 

If you have any lingering concerns or questions, you can contact your insurance agent or contact  a customer service representative from a company. He or she will be able to answer your questions and recommend solutions to your problems. Typically, a motorist is not required to put forth a large down payment when purchasing an insurance policy, even when paying for one in monthly installments. You can find an insurance company that offers your desired coverage with the right payment options for you. 

 

 

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