PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How can I budget to reach my car insurance goal?
I want to get off monthly payments and know paying in full is a better deal. How can I set up a budget for this?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
To budget for this, figure out how many months are left before your policy renews and divide that number by your total policy premium.
For example, if your policy renewal is in four months and your renewal price is $800, you’ll need to save an extra $200 every month ($800÷4).
To budget for your future policy terms, do the same thing. For example, if your policy still renews for $800, but your next term is 10 months away, you’ll only need to save an extra $80 every month.
Be aware that carriers do have the right to re-rate your policy at every renewal.Your rate may fluctuate and your savings may be less or more than the final amount you will owe.
“
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
