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Does It Make Sense to Pay My Auto Insurance Annually?
Jan 17, 2020
Why pay my auto insurance upfront?
With today’s auto insurance rating schemes, many auto insurance carriers are offering significant discounts for paying your auto insurance up front (annually).
Check with your carrier to see how much of a discount is available if you pay your auto insurance in one lump sum.
Usually, this discount is only available on the renewal date and if you pay the entire year (6-months in come cases) in full.
Many companies offer up to 7.5% or more when you pay-in-full.
When you factor in the cost of money that discount can be much more than the alternative rate of return you could earn over the short term.
Does it make sense to pay in-full? In many cases yes. Call us today to find out how much your carrier may discount your premium if you choose to pay the premium in full!
This article may have been originally published at Quora.com.
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