Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
Most companies offer various payment plan options and usually, a monthly option is available. Some companies require an initial down payment equal to the first two months and then bill monthly thereafter, others accept one month. Along with a standard billing plan, many times companies will offer an automatic payment system either as an electronic funds transfer (EFT) from your designated checking or savings account or you may also choose to have the payments come from a bank card of your choice.
Agent, Rural Mutual Insurance Co., Union Grove, WI
Yes, with most carriers you are able to pay your auto insurance premium on a monthly basis. Some carriers may require that you have that payment set up on an EFT from your savings or checking account or possibly auto pay through a credit card. Contact your local agent to find out more about the payment options available with your carrier.
Each insurance carrier has its own payment options.
Most of the carriers do allow monthly payments, but charge installment fees. The amount of the installment fee may vary depending on the payment option: check, EFT, credit card.
In some cases, you may be required to pay in full. For example, when in the past, you have allowed your policy to be cancelled for non-payment of premium more than once or twice per policy period.
Most insurance companies that sell auto insurance, offer various pay plans, usually on a directly billed basis. Some offer monthly plans and quarterly payment arrangements are common. In some instances, the policyholder is billed accordingly and then makes payment directly to the insurance carrier. A popular option is for the policyholder to make arrangements to have the carrier withdraw the periodic payments from a checking account. Carriers prefer this since they avoid the expense of mailing reminders.
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Most of the carriers do allow monthly payments, but charge installment fees. The amount of the installment fee may vary depending on the payment option: check, EFT, credit card.
In some cases, you may be required to pay in full. For example, when in the past, you have allowed your policy to be cancelled for non-payment of premium more than once or twice per policy period.