Some insurance companies charge a fee for each monthly payment if you do not pay in full for the policy.
An installment payment service fee usually covers the cost of processing your payment on a monthly basis. To avoid paying this monthly service fee, you can pay in full when you buy your auto insurance policy.
My carrier charges an extra $269 per 6 months if I do not pay in one lump sum. This is outrageous. Someone needs to police the insurance industry and find out why their high rates are allowed. What justifies this enormous charge?
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