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Save $104 on Auto Insurance Finance Charges

What if I told you how to save $104 on finance charges while staying with your current carrier? The finance charge typically charge around 8% finance rate (depending on your credit) and $1300 per year average premium nationwide. It' s easy, if you have the cash. And you will eliminate policy cancellation fees, increased finance costs, and DMV notices and fines if the you miss a premium or it gets lost.

In some states, car insurance companies are not required to have grace periods for late payments. So if they don’t have the money by the due date, your policy will be canceled. This causes the company to have to issue another policy you, so you will not benefit from the loyal customer discounts. The carrier will also re run your driving record for tickets.

Insurance coverage verification is instantly now, so all insurance companies must notify the DMV when your policy ends, resulting in notices and penalties after a lapse.

If you decide to pay monthly, do it via electronic bank draft or credit card so there are no lapses, just be aware of your credit limit and keep enough in your bank account to cover the monthly expense.

A Better Online Alternative

Even more attractive than auto billing, save on auto insurance finance charges by paying it annually, in one single premium. If you don't have the cash all at once, pay six months in full, twice a year, rather than financing the premiums. There will be fewer disputes over billing, and no monthly checks to send in or get lost.

A final auto insurance savings tip

Use the quote box at the top. No one auto insurance carrier has the the lowest rates. There are insurers licensed in every state ready for your business. They are capable of providing you with an online quote for your car insurance and they are prepared to sell you the policy and provide you with an instant insurance card which prints out on your computer.

Written by Craig J. Casey

Financial Writer helping people with their insurance problems on the net since 1998.

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