Annual Auto Insurance Rates vs. Monthly Auto Insurance: Which is Better for You…..
Auto insurance is something everybody with a car needs, but it can be a bit confusing. Auto insurance rates are the biggest problem for most car owners, especially those who are living on a budget.
When it comes to auto insurance rates you pretty much have two choices – pay month or pay on an annual basis. While there are benefits to both, it can be difficult to know what’s best for you. Use the information below to help you pick out which billing cycle is best for you and your family when it comes to paying for auto insurance.
Annual Rates vs. Monthly Rates
The difference between annual rates and monthly rates should be fairly obvious. With annual rates, you pay for a whole year’s worth of insurance up front. Monthly rates allow you to break that down into 12 payments due at the same time each month.
Annual payments allow you to pay less over a full year. Monthly payments allow you to pay in easy installments.
Consider Your Finances
For some people, car insurance is a big chunk of their monthly income. If that description fits you, you may be better off paying monthly to avoid the hardship of shelling out a large amount of cash for an annual payment.
However, if your car insurance payment each month isn’t a burden, you may find that you can easily pay your annual rate without feeling strapped for cash.
What Discounts Does Your Insurance Provider Offer?
Before you decide on annual versus monthly payments, talk to your auto insurance provider to see what discounts tare offered. If it’s only a few dollars or it doesn’t make much difference for you, sticking to monthly could be your best bet.
Contact us for more information about auto insurance rates.