When Do You Pay Car Insurance?
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat's a great question! Your insurance company will offer you a few different options. The most common are to pay monthly, quarterly (every three months), every six months, or yearly. Not every company will offer all of those options, and by far the most common billing method is paying monthly. Your insurance company may also make payment options dependent upon your length of time insured with them, the make and model of your car, and your driving history. I'd expect to pay monthly with most companies, and be happily surprised if they give you the option to pay less frequently. Thanks for asking!Answered on March 15, 2015flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThe basic principal is that the entire premium is paid in advance of the period of insurance. However, companies have been granted permission to accept payments in installments. The fundamental remains the same, however, and that is the premium must be paid in advance. Companies will send out renewal notices to current policyholders with enough of a lead time that if payment isn’t received the policy can be cancelled at the end of the policy term.Answered on March 16, 2015flag this answer- 70 POINTSview profileDrew OvermanAuto insurance premiums can be paid in a few different ways. Policies are usually six month periods and the total premium can be paid by the insured at any time within the six months. Most companies that I have experienced offer different schedules of payment for premiums. Most offer a monthly payment plan with installments due each month and others offer other plans where you can pay two or three times per six months or every other month.Answered on March 25, 2015flag this answer
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