Do you save money if you pay your insurance in full?

My policy will be renewing soon. Would I save money if I paid the policy in full?

Answer
“When you choose to pay your car insurance premium in full, you will definitely save money.
Most insurance carriers offer a discount on your policy premium when you choose to pay your premium in full every six or 12 months.
When you pay in full, your policy is set for the entire policy term. The insurance company has no risk of non-payment of premiums or declined payments. Insurance companies see this as more favorable and less risky and offer a discount because of it.
If you can afford the payment up front, do it. But don’t force the issue. Monthly payments still keep you legal, even if you’re paying a bit more for it.
No matter which payment option you choose, remember that shopping around just might save you the most money. Through the Jerry app, you can compare rates from dozens of insurers to find the best price and coverage.”
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Emily Maracle
Answered on Aug 18, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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