How does car insurance work? do u have to pay for it monthly?
Tuesday, September 7th, 2010 at
4:41 am
i’m buying my first car and am confused as to how car insurance works. i know its better to have insurance before driving your car off the lot but how does insurance work? do you pay insurance monthly liek you do for a car note?
Tagged with: Car Insurance • First Car • Insurance • Insurance Work
Filed under: Car Insurance
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I recommend you this site where you can compare quotes so you can find the best option for you
http://quoteinsurance.notlong.com
You can pay for it monthly or every 3 months or you can pay for the whole year.
You have to have insurance before taking the car off of the lot. You can pay it monthly or yearly.
To drive a car you have to have insurance. It is illegal not to have it. It protects you in case of an accident that you cause or someone else causes. It pays for damages so there is no out of pocket money that you have to come up with. Once you have an accident your insurance payments go up(cost more). With most insurances you have a choice if you want to pay in full for a year/six months, or if you want to pay monthly. Shop around for insurance quotes not all companies charge the same.
It’s not "better"… it’s mandatory, unless you’re paying cash for the car. If not, then you have no choice… the bank that you’re getting the loan from will require full coverage and you will not be driving off the lot without it. You usually have a 6 month policy, the insurance gives you a quote for the total amount, which you can pay in full at that time. Or, if you choose monthly payments which costs more in the long run. They’re going to charge you fees which will make the total higher but you’ll be able to pay it in smaller monthly payments. Once you get the car, you can change your policy to another company if you want.
What car are you driving right now? Are you covered on your parents’ or someone else’s policy? If so, then go to that company and talk to them about acquiring individual insurance from them when you buy your car.
Try a comparisson site, they are really helpful