To start your insurance coverage now you must at least make a down payment on the policy. So you cannot sign up for your insurance policy today and wait until next week to make any type of payment.

Per the definition of an insurance contract in order for and insurance contract to be effective (bound) there must be consideration (payment). Therefore insurance companies require at least a down payment to begin an insurance policy. The reason being, that in the event of an accident or loss of some kind the customer expects the insurance company to pay for the damages and or injuries that occur. If no premium has been paid, then the coverage has not been purchased and no claim will be paid because not contract exists.

If you cannot pay for the full insurance premium at once than typically you can get a policy with a down payment and then make monthly payments on it. Whether you will want to pay for an insurance policy in full or to pay for it through monthly payments is a personal decision best ruled by your own financial means and abilities. If you can afford to pay the policy upfront and all at once then do so. If instead for your finances it is better to pay it off in installments then choose the monthly payment method.

With some of our carriers, you can add an additional 10% in savings when you pay in full. Monthly payments with some car insurance companies come with a fee for each monthly installment. This fee usually covers the cost of processing your payment on a monthly basis.

With CarInsurance.com you can always make payments on your policy. The only exception is when the state requires a paid in full policy (some SR-22 policies).

So when purchasing car insurance you are required to make a minimum down payment. The down payment is usually calculated as a percentage of the entire term premium. If you need insurance and cannot afford a large down payment we offer many payment plans to help you purchase the policy that you need.

If you purchase an insurance policy through CarInsurance.com, we accept payment from checking accounts, savings account, prepaid debit card or third party as well as the certain credit cards including Visa and MasterCard.

Get a quote for affordable car insurance with us now.