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What's an installment payment service fee?


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.

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2 Responses to "What's an installment payment service fee?"
  1. Donna Cawthon

    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?

  2. Anonymous

    It is not really telling me if its possible to pay for car insurance monthly.

Disclaimer: Answers and comments provided are for information purposes. They are not intended to substitute informed professional advice. These responses should not be interpreted as a recommendation to buy or sell any insurance product, or to provide financial or legal advice. Please refer to your insurance policy for specific coverage and exclusion information. Please read our Terms of Service.

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