Cheap No Down Payment Auto Insurance
Paying for an auto insurance policy can get to be very expensive. A great way to find cheap auto insurance is by not making a down payment or making the lowest down payment as possible. Most car insurance companies will require you to sign up for a 6 month policy and pay at least the first month’s premium at the time of signing up. Cheap no additional down payment car insurance will come from following a few key points. In order to keep down payments low it is important to maintain continuous car insurance coverage, utilizing the right payment method, keep a good driving record and shop with multiple insurers.
<See Below for the Best Down Payment Companies>
The way you pay your premiums will also influence how much of a down payment you need to make. If you are paying by credit card or check, some car insurance companies will require you to make at least a down payment of 2 months. If you can make payments as a direct debit from your checking or savings account you have a better chance of only paying for your first month’s premium. Geico and State Farm are 2 companies where you can benefit by paying directly from your bank account. Another benefit of paying this way is you will avoid monthly processing fees that typically come from paying by a credit card or check. The following website provides a complete review of monthly car insurance.
Continuous Auto Insurance
One of the first questions a car insurance company will ask is if you are currently insured. They are asking this to determine if you have maintained continuous car insurance. If not, in some states, car insurance companies can charge you a higher premium or ask for a larger down payment, or deposit, when signing up. By keeping insurance at all times it will help keep your down payments as cheap as possible. If you will be without a car a good strategy is to look into a non-owners insurance policy in order to maintain continuous car insurance.
Another area to keep your policy down payment low is to maintain a good driving record. This is one of the most important factors in helping keep your premiums low and not having to make any additional down payments or deposits. Keeping a good driving record will also help when shopping for car insurance as more companies will want to offer attractive pricing. Check with your local insurance agent to inquire how driving history is influencing your down payments.
How to Find Cheap Low Down Payment Auto Insurance
Since most car insurance companies require at least a 6 month policy the best way to find a cheap no down payment auto insurance is by shopping for car insurance. An independent web site will provide you several quotes from many top companies. Based on the lowest price you receive you should be able to request that monthly payments be directly debited from your checking or savings bank account in order to find the cheapest auto insurance. It is a good idea to speak with the insurer before signing up in order to make sure the no down payment and monthly payment terms are completely understood.
Best Down Payment Companies
Below is a review of the largest car insurance companies and the down payment required when signing up for a new policy. The below information is a sample of common payment information that should be verified. Since auto insurance is regulated by state governments it is always a good idea to check the information below with the insurance company in the state where you live.
Progressive – Progressive will require first month’s premium when signing up and monthly payments during the outstanding period of the policy. Payment can be done by credit card, check or direct debit with the least processing fees coming from payments directly debited from your bank account.
State Farm – The best approach with State Farm is to establish automatic direct debits from your bank account. This will allow making the first month payment when signing up and paying monthly payments for the remaining period of the coverage. The other option is write a check for the first 2 months and pay in monthly installments for the rest of the policy. There will likely be higher processing fees by writing a check.
Geico – Geico will allow monthly payouts on a new or existing policy. Credit card expenditures will incur higher processing fees so it is advisable to have payments directly from your bank account.
Farmers – Farmers will allow transactions on a monthly basis where you can pay from your credit card or bank account.
Nationwide – Nationwide will accept monthly payouts on car insurance where you will need to pay the first month’s premium when signing up. There are typically higher fees to sending in a check so it is best to pay directly from your bank account.
Allstate – Allstate will typically ask for 2 months payments when signing up for a new policy. The other payments can be done in monthly increments by credit card, check or directly from your savings or checking account.
USAA – USAA will allow month to month car insurance with paying the first month premium at initiation of a new policy. No additional service fees for paying from a credit card, bank account or writing a check.