How do you pay for auto insurance?

[SuperGLS]

Today I renewed my auto insurance (it went down again, yay!) and they have two options, either pay monthly or pay six months in advance.

I was wondering how other people choose to pay for theirs?

So, How do you pay for auto insurance?

(Admin note - Yeah, I know, it's kind of a boring question, oh wells).

[05xd]

I pay mine monthly.I pay $230 bucks a month.It was $270.It also should go down because I turn 25 in a month

[KeWLKaT]

I pay it the whole year at once.... Were's the option?

[SuperGLS]

I pay mine six months at a time, save nearly $100 that way.

I pay it the whole year at once.... Were's the option?

I figured that might an option, but it isn't for me and since I'm young and stuff I haven't had much experience and didn't know if other companies offered that.

Anyway, it's updated.

[BlackElantraGT]

I normally pay month to month since I usually don't have that much money upfront, but currently my insurance is all paid for in advance for 6 months. I think it's less than a $40 savings for me to pay in full.

[VTElantra]

Monthly, that way I can keep on top of it. I would most likely spend the money before I could save it if I payed every 6 months. My insurance is also about $225.00 a month, sucks being young.

[knottravesty]

I pay mine monthly due to the fact its 270 / month.... Keep in mind No wrecks either.

[ba_feitl]

Every six months for me ... there's a processing fee if you choose to do it monthly. Since I can't stand paying for convenience and the time value of defering the payments doens't offset the extra spend I'd pay for the year if they gave me a discount to to it but they don't

$225 a month !! Ouch!... I guess over 25 married with multiple line and clean driving gets you somewhere. I just paid $380 for 6 months and another $375 for my wifeys Forester.

Brad

[projectx515]

225 a month?!?!?! wow i pay mine every six months not to hard to work out its only 85 a month so.....

[skeetre]

Mine was 130 a month... now it's like 93 a month. Was 85 a month, then went up a little for some reason... It's actually better for me to pay monthly, if I pay 6 months in advance, I only save like $8.

I used to pay yearly also, but I was told by 2 different insurance agencies that they no longer offer yearly rates, only 6 months at a time.

[Keyan]

Monthly on my parent's plan...

[2k2GT]

We pay the premium of $214.27 for 2 cars every six months. We only have liability coverage at the state minimum.

[SuperGLS]

Mine was $662 for 6 months. I signed up with Progressive after I graduated college and had to get off my Dad's plan. Luckily that just happened to be 3 years after the accidents that were my fault and unlike others, Progressive only goes 35 months instead of 60 months. Bonus! It's been going down slightly too. First payment was $920. Second payment last year was $736. And this one was $662. Pretty good for 23 and single (well, not married).

[robs02elantra]

190 a month for my wife and I on the elantra.

Hopefully, with a second car in the summer, we will have 3 policies with the same insurer, and a good multi policy rate to boot. I'll start paying it yearly when I renew next time.

[getfuzzd]

I'm at $106 a month plus a $3 service charge a month for full coverage.

[Vampyrate]

fuzzd, what provider do you use? im trying to get off of my parent's soon and get my own

[korai9989]

$150.00 monthly... gotta love the parents plan!!! (full coverage)

I used to pay mine (on my old explorer) and the payments were divided into four payments per six months, so, every month and a half (Nationwide)

[CornbreadXD]

I pay monthly $196 <clean record + no reported accidents> its $132 now with the XD in storage till april and im now driving a 87 dodge daytona

[03SilverBullet]

You guys are lucky you dont live in NY.. Insurance here SUCKS, way to much $$.

[bikerPA]

I'm at $98/mo. for full coverage... I'm 25 with a totally clean record, last ticket was in '98.

Then again, it's frickin' South Carolina. They were trying to sell me lojack when I bought my car in MD and they're like "it's in the top 90% of theft-prone states," but it wasn't available in SC so they were all "uhm, nevermind." If I move back to Maryland, like I hope to later this year, my insurance will probably jump to $150 or something. :(

[wev567]

Insurance is such a scam - 36, single, clean license, paying 1575 for full on the Elantra, quote was 1380 for full on my 96 Neon last summer, was paying 970 just for liability. Current bill includes my 98 Dakota, driven like no miles a year (my inheritance!!), so the total just for cars is like 1790 a year.

Why so high? Dunno - 500 dectuctable, liability only on the Dak, have homeowners & bike coverage under separate policies with the same company. I do live near the center of Pittsburgh (Upper Lawrenceville, for you locals), had claims, but for a stolen car and twice when my parked car was hit. I also have full tort so I can sue *your* company and fairly high 100/300/300 limits. Rates mean little without these details.

I've shopped and this is a decent deal. Most of what they are looking at isn't my driving record or their liability, it's just what they think the market can and will bear.

[Brooklyn]

23, one speeding ticket I was actually caught for, full coverage, $89.30 a month. Used to be with 21st century, but they just randomly raised my rates for no reason saying that everyone in my area was getting rate increases. I asked my brother and mother, whom are also both on 21st, they were never increased. So I switched to wawanesa (I know, weird name) and I saved about 50% from my previous provider. I will have no idea of the quality of the company until I get into an accident. hopefully i will never find out.

[Vampyrate]

just did a little progressive comparison and i could spend 691 every 6 months with them or about 300something from geico... once i get another job im thinking of switching off of my parent's

[paki]

$166 a month on my elantra, full coverage. we pay 6 months at a time.. about $2k a year. 19 yrs old, good grades discount, driving school discount (total 20% off).. and no accidents on file. the hit and run is still being investigated, and the other one wasnt my fault.

[Josch4speed]

I'm 24 and I pay 75$/month for me and my wife (she's occasional driver). That's for full coverage on a 2005 Elantra VE (5 doors). Insurance seems to be cheaper here in Quebec? It sure helped a lot when we got married last year.. My record is also perfectly clean.. no accident, no ticket nothing..

[hyunelan2]

I'm 26, married, both with clean driving records. We pay $117/month total for both my wife and I, full coverage on both cars. I pay monthly because it's easier to do budgeting stuff that way. I suppose I could make a 'payment' to my savings account every month and pay annually, but it's only $3 a month more for monthly billing.

[getfuzzd]

fuzzd, what provider do you use? im trying to get off of my parent's soon and get my own

State Farm, I also have one accident/ticket with 2 points total. My rate actually went down a few bucks after my accident. I was quite surprised by that.

[Vampyrate]

my parents have statefarm and im on theirs

[joshuajd]

From the looks of it I pay the most for insurance.

[djmick]

I pay mine by the month but i will save and do annually as it works out to be $60 cheaper for a year. My First new car was 99 Excel Sprint and the insurance full comp. was $1000. now i am older its only about $300-350.

[BobMs_wht2k2]

We used to pay it yearly, but changed to every 6 months. For car, wifes 'zuki (both on full coverage) and the truck it works out to 1100 a year and the bike is another 250ish a year. Truck is the only thing on liability. I think it just went down again though. Since we're both over 30 and have our homeowners there too.

[SuperGLS]

I was thinking about this on the drive home...

If you pay in advance, then file a claim, can they raise the insurance on you? Or do they have to wait until it's time to pay again (in 6 more months)???

[alienman]

I pay mine monthly... it works out to about $135 a month canadian with my extra insurance i have on it...

[knottravesty]

Ha YES!!!!!
Mine just dropped from $270 a month to
$175 !!!!
HELL YEAH An extra hundred everymonth lol..

[XTRAWLD]

I currently pay monthly and it goes right on my credit card, which is a first for me. Prior, it was just taken out of my bank account monthly. Before that I paid every 6 months, and before that I tried to pay the whole thing off in one lump sum to get a few hundred dollar discount. So I've done everything really. Paying off all at once is a good route if the company gives you that option, cause it certainly helps to save a couple hundred on insurance through that discount. I've been out of the high risk market since October now that my record has been fully cleared....it's such a breath of fresh air.

[wev567]

I was thinking about this on the drive home...

If you pay in advance, then file a claim, can they raise the insurance on you? Or do they have to wait until it's time to pay again (in 6 more months)???


IIRC, not for a claim or moving violation. They can raise rates mid year, I think...

[SWortham]

Monthly. $160/month. I'm 23 and have an almost perfect driving record. I had one ticket go on my record but my rate didn't go up for it.

[EVOXD]

i payed 260 a month for 5 years but when i turned 21 this year it went down to 180 a month. i even have geico which is supposed to be cheap and i have a totaly clean record.

[Elantra_GT_chic]

I'm 18 and I pay around $125 per month. With a perfect driving record at that;)

[southpawboston]

$1550/yr (129/mo) for full coverage for me and the wife. wife had an accident which brought it up from $1150/yr. :mad:

super, IIRC, your rates can't go up until the next policy term. so if your term is 6 months and you just paid it, it can't go up for six months. what sucked for us is that my wifes accident occured just a month before our renewal, and we have a 1 year term.

[SuperGLS]

Ahh ok. Good stuff.

[clevelantran]

Why so high? Dunno - ... I do live near the center of Pittsburgh (Upper Lawrenceville, for you locals), had claims, but for a stolen car and twice when my parked car was hit.

Rate's probably high due, in part, to living near the center of town, and look, your insurance company IS taking the risk of possibly needing to pay out on your behalf: your car was stolen ...and twice your car has been hit by others...ie: a higher risk to the company. You also mentioned that you have Full Tort which runs about 35% more than a limited tort policy. You answered your own question, really.