Standard car insurance policies come in three, six, or twelve month periods. But it is possible to get monthly no deposit car insurance rates instead.
Getting monthly no deposit car insurance is a good alternative to the problem of driving illegally without liability coverage if you have problems paying the expensive annual premiums up front. This is especially true for people who have had an accident and have seen their premiums go up 50 percent or more.
No deposit car insurance is usually paid at the beginning of each month and is the preferred payment choice by many first time car owners such as new drivers and students who do not have a lot of spare cash lying around after buying their own vehicles.
But even people who can afford to pay up front sometimes choose not to. It is basic human nature to feel more comfortable keeping cash in one's pocket for emergencies rather than to hand over a lump sum to an insurance company.
Longer term auto insurance is slightly less expensive, but no deposit car insurance has easy installment payments and there are few good reasons not to do so. You don't even have to write a check each month as you can have the amount debited from your account if you would like.
Another benefit, is the option to switch providers or make changes to your policy while remaining with the same company. You can choose to cancel your existing policy and get another new one without losing anything at the end of every month.
If you find a better insurance quote, you no longer have to worry about being bound to your policy and miss out on a great deal.
All in all, no deposit car insurance provides the flexibility and the economy needed by many of today's drivers.
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