will vary depending on the total cost of your premium. Here’s what you can expect to pay as part of your first car insurance payment:
A down payment on your total premium (typically anywhere from 8% to 33%)
Your first monthly payment (based on the remaining cost of your total premium)
A monthly installment fee (typically $3 to $10)
For example: Your first monthly payment for a 6-month policy with a total premium cost of $600, a 25% down payment, and a $5 monthly installment fee would be $230. Your following monthly payments would only be $80.
If you're worried about star-up fees and want to reduce the cost of your insurance premium, here are some tips:
Pay your full premium upfront: While you’ll have to save up for the initial payment, paying your premium in a lump sum allows you to skip the down payment and monthly installment fees—and you may even earn a
Compare car insurance quotes: Compare quotes from three to five insurance providers to narrow down your best offer. Jerry, the AllCar™ app, can help you compare rates from top insurers in just a couple of minutes without any hassles or long forms.
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