Can you pay car insurance for the whole year at once?
Total Comments: 5
Posted: Tue Feb 15, 2011 04:56 pm Post Subject:
There can be a benefit and a disadvantage to paying for your auto insurance in full for the year.
The benefits - less hassle, many times you receive a discount for doing so, and it locks you into the current premiums until your policy is up for renewal.
However, the disadvantages are, if your insurance company has a rate decrease, you will not enjoy the new lower premiums until your policy renews. In addition, if you decide to change companies mid-term, you have the possibility your policy fee will be fully earned.
Many auto insurance companies prefer not to offer an annual policy for that very reason, they are unable to raise their policyholder’s premiums until the policy is up for renewal.
I've read that most car dealers require the buyer to have auto insurance when leaving the lot with the car. My question is, since this is my first time buying a car and I don't have car insurance, do I buy it from an agency before hand or do I purchase is from the dealer?
I would always recommend dealing with an insurance agent. Your agent should be a part of your financial future. When you go on to buy a home, you will want to call on your agent about home insurance. When you get married, you will want to call your agent about life insurance. To help insure a stable financial future, start developing a relationship with an insurance agent today.
In many cases, dealers are only concerned about getting you out the door with their car. An insurance agent’s responsibility is to provide you adequate coverage in the event you are in an accident. Go with the agent.
Posted: Tue Feb 15, 2011 04:56 pm Post Subject:
There can be a benefit and a disadvantage to paying for your auto insurance in full for the year.
The benefits - less hassle, many times you receive a discount for doing so, and it locks you into the current premiums until your policy is up for renewal.
However, the disadvantages are, if your insurance company has a rate decrease, you will not enjoy the new lower premiums until your policy renews. In addition, if you decide to change companies mid-term, you have the possibility your policy fee will be fully earned.
Thanks, Matt Anderson
Columbia Maryland Business Insurance
Posted: Tue Feb 15, 2011 04:59 pm Post Subject:
Many auto insurance companies prefer not to offer an annual policy for that very reason, they are unable to raise their policyholder’s premiums until the policy is up for renewal.
Thanks, Jack Colbourne
Salisbury MD Auto Insurance
Posted: Tue Feb 15, 2011 05:02 pm Post Subject:
I've read that most car dealers require the buyer to have auto insurance when leaving the lot with the car. My question is, since this is my first time buying a car and I don't have car insurance, do I buy it from an agency before hand or do I purchase is from the dealer?
Thanks, Mike Wilson
Yardley Auto Insurance
Posted: Tue Feb 15, 2011 05:04 pm Post Subject:
I would always recommend dealing with an insurance agent. Your agent should be a part of your financial future. When you go on to buy a home, you will want to call on your agent about home insurance. When you get married, you will want to call your agent about life insurance. To help insure a stable financial future, start developing a relationship with an insurance agent today.
Thanks, Ken Ewan
Round Rock Homeowners Insurance
Posted: Tue Feb 15, 2011 05:04 pm Post Subject:
In many cases, dealers are only concerned about getting you out the door with their car. An insurance agent’s responsibility is to provide you adequate coverage in the event you are in an accident. Go with the agent.
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