Affordable Monthly Auto Insurance (2024)
Monthly auto insurance payments provide you with flexibility and money in your bank account that would otherwise not be available to you if you pay a large lump sum to your auto insurance company. Month-to-month auto insurance also enables you to easily switch providers in order to get better savings and discounts. Cheap monthly auto insurance rates average about $81.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
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UPDATED: Jan 6, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jan 6, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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What You Should Know
- Monthly auto insurance is available from several insurers and can be a good option both for financial flexibility and situations in which you need temporary coverage.
- The average monthly rate for auto insurance across the country is $81
- Factors like age, gender, and vehicle type are just some of the variables that can have a significant effect on your average auto insurance rates
Monthly auto insurance payments provide you with flexibility and money in your bank account that would otherwise not be available to you if you pay a large lump sum to your auto insurance company. Month-to-month auto insurance also enables you to easily switch providers to get better savings and discounts. Cheap monthly auto insurance rates averages about $81.
Can I get monthly car insurance coverage?
If you’ve ever purchased an auto insurance policy before, chances are you’ve been offered the options to pay by the month, bi-annually, or annually. You probably skipped right over the month-to-month auto insurance option because the other two options likely meant paying less for your auto insurance coverage over time.
Before you look for states with the cheapest car insurance, let’s find out what monthly insurance is first.
Continue reading to learn some of the benefits of monthly auto insurance, pros and cons, other coverage options, potential car insurance rate (though they vary by location, so you may find that Michigan auto insurance rates are higher than those in California, for example), and more.
If you are ready to buy monthly auto insurance, comparing affordable auto insurance quotes is the best way to save money. Enter your ZIP code into our free online quote comparison tool to do just that and start saving today.
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What are the monthly auto insurance basics?
Looking for auto insurance by the month? Read through the next several sections to find out what you need to know about auto insurance on a month-to-month basis and learn more about average monthly auto insurance costs.
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Can you insure a car for one month?
The short answer is yes. You can buy auto insurance per month. It’s often referred to as a month-to-month auto policy, which we’ll discuss in great detail in the next section.
In general, monthly insurance policies grant you more flexibility than a six month policy or annual payment policies. Additionally, it’s particularly useful when you only need temporary coverage.
What is month-to-month auto insurance?
Most auto insurance providers will give you the option to pay for coverage on a month-to-month basis rather than forcing you to make a large upfront payment. To decide if “monthly auto insurance” works for you, you need to carefully review its advantages and disadvantages, as well as your unique situation.
There are some instances when paying every month makes sense. If you expect to change providers, are going to move, or plan to purchase a different vehicle in the next six months, a month-to-month plan could be your best option.
If you’re looking to get the absolute best deal, you’ll definitely want to sign onto a policy for a minimum of six months. If you sign on for a year, even better, because they’ll offer you an even steeper auto insurance discount.
To take this method of saving on your auto insurance one step further, adding multiple cars to a policy will extend the savings even further.
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How much does auto insurance cost per month?
Monthly insurance rates vary based on location, age, gender, the car you drive, and more. However, we do have National Association of Insurance Commissioner (NAIC) average monthly rates by state, which we’ve summarized in this table.
Average Monthly Comprehensive, Collision, Liability, and Full Coverage Rates| State | Average Monthly Cost of Comprehensive Insurance | Average Monthly Cost of Collision Insurance | Average Monthly Cost of Liability Insurance | Average Monthly Cost of Full Coverage Insurance |
|---|---|---|---|---|
| Alabama | $13.03 | $26.50 | $31.05 | $72.37 |
| Alaska | $11.44 | $29.23 | $45.61 | $85.65 |
| Arizona | $15.51 | $23.16 | $40.72 | $81.07 |
| Arkansas | $15.87 | $26.82 | $31.76 | $75.53 |
| California | $8.38 | $33.05 | $38.58 | $82.23 |
| Colorado | $14.55 | $23.92 | $39.76 | $81.80 |
| Connecticut | $10.97 | $30.71 | $52.83 | $95.92 |
| Delaware | $10.21 | $26.56 | $64.71 | $103.38 |
| District of Columbia | $19.44 | $39.06 | $52.34 | $110.89 |
| South Dakota | $9.71 | $23.58 | $24.09 | $104.76 |
| Florida | $13.27 | $27.65 | $70.42 | $87.37 |
| Georgia | $8.46 | $26.10 | $40.89 | $72.77 |
| Hawaii | $9.71 | $18.25 | $38.21 | $56.66 |
| Idaho | $10.68 | $25.81 | $28.10 | $73.71 |
| Illinois | $10.17 | $20.86 | $35.88 | $62.92 |
| Indiana | $15.29 | $18.31 | $31.04 | $58.54 |
| Iowa | $22.33 | $21.94 | $24.45 | $71.91 |
| Kansas | $11.78 | $22.33 | $28.53 | $78.21 |
| Kentucky | $17.93 | $34.53 | $43.24 | $117.11 |
| Louisiana | $8.75 | $21.67 | $60.60 | $58.65 |
| Maine | $12.73 | $29.50 | $27.83 | $93.04 |
| Maryland | $11.25 | $32.36 | $49.96 | $94.11 |
| Massachusetts | $12.90 | $34.49 | $48.98 | $113.67 |
| Michigan | $15.36 | $19.53 | $60.17 | $72.96 |
| Minnesota | $17.53 | $26.94 | $36.63 | $82.84 |
| Mississippi | $15.11 | $22.94 | $36.45 | $72.70 |
| Missouri | $17.66 | $22.11 | $33.28 | $71.96 |
| Montana | $19.10 | $19.76 | $32.31 | $69.25 |
| Nebraska | $9.80 | $25.32 | $29.09 | $91.92 |
| Nevada | $9.23 | $25.62 | $53.92 | $68.23 |
| New Hampshire | $10.95 | $31.82 | $32.77 | $115.23 |
| New Jersey | $14.38 | $23.08 | $72.13 | $78.13 |
| New Mexico | $14.26 | $32.09 | $38.52 | $113.39 |
| New York | $11.34 | $24.47 | $65.42 | $65.76 |
| North Carolina | $19.25 | $20.34 | $29.80 | $64.44 |
| North Dakota | $10.13 | $22.49 | $23.55 | $65.71 |
| Ohio | $18.82 | $26.54 | $31.35 | $83.78 |
| Oklahoma | $7.82 | $18.90 | $36.80 | $75.40 |
| Oregon | $12.02 | $27.27 | $46.12 | $80.88 |
| Pennsylvania | $11.02 | $34.29 | $41.25 | $108.63 |
| Rhode Island | $15.08 | $22.09 | $60.01 | $81.09 |
| South Carolina | $21.51 | $17.38 | $41.46 | $63.91 |
| Tennessee | $12.37 | $25.76 | $33.14 | $72.62 |
| Texas | $17.20 | $31.21 | $41.54 | $92.47 |
| Utah | $9.13 | $22.16 | $39.27 | $72.74 |
| Vermont | $10.46 | $24.62 | $28.42 | $63.67 |
| Virginia | $11.38 | $23.38 | $34.43 | $70.22 |
| Washington | $8.87 | $22.15 | $47.41 | $80.73 |
| West Virginia | $17.02 | $27.47 | $41.79 | $85.48 |
| Wisconsin | $11.40 | $18.83 | $29.99 | $61.43 |
| Wyoming | $20.63 | $23.24 | $26.95 | $70.62 |
Read more:
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Keep in mind these rates are only a baseline and may not reflect what you’ll pay. A number of factors can affect affordable monthly auto insurance rates.
To dig deeper into rate data, we’ll spend a few minutes looking at the average monthly car insurance rate by vehicle type, gender, and age. Take a look.
Read more: Cheap North Dakota Auto Insurance
What is the average cost of auto insurance by vehicle type?
We’ve collected rate data for selected vehicle types as an example of how what you drive can affect your rates.
Average Monthly Rates by Vehicle and Company| Insurance Company | Average Monthly Rates for 2015 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | Average Monthly Rates for 2015 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | Average Monthly Rates for 2015 Toyota RAV4: XLE | Average Monthly Rates for 2018 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | Average Monthly Rates for 2018 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | Average Monthly Rates for 2018 Toyota RAV4: XLE |
|---|---|---|---|---|---|---|
| USAA | $212.63 | $200.81 | $204.55 | $237.97 | $201.89 | $210.80 |
| Geico | $257.68 | $257.72 | $257.57 | $278.20 | $278.24 | $278.10 |
| State Farm | $267.02 | $252.02 | $268.83 | $291.43 | $265.83 | $284.86 |
| American Family | $287.27 | $264.90 | $277.18 | $290.66 | $310.11 | $291.42 |
| Nationwide | $297.58 | $295.65 | $293.09 | $281.14 | $280.16 | $277.38 |
| Progressive | $326.17 | $369.13 | $303.94 | $330.21 | $377.41 | $310.90 |
| Farmers | $341.13 | $367.10 | $310.68 | $365.85 | $398.29 | $314.08 |
| Travelers | $335.29 | $368.36 | $365.31 | $367.70 | $388.43 | $392.35 |
| Allstate | $369.15 | $396.14 | $360.42 | $457.59 | $448.36 | $412.33 |
| Liberty Mutual | $485.85 | $489.11 | $485.44 | $499.07 | $556.89 | $520.37 |
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Read more: Affordable Honda Auto Insurance Quotes
What is the average cost of auto insurance by gender and age?
While gender-based auto insurance rate adjustments are illegal in states like California, the approach is still legal in most states. Take a look at this table to see how both gender and age can affect your rates.
Average Monthly Insurance Rates by Gender and Company| Insurance Company | Single 17-year old female | Single 17-year old male | Single 25-year old female | Single 25-year old male | Married 35-year old female | Married 35-year old male | Married 60-year old female | Married 60-year old male |
|---|---|---|---|---|---|---|---|---|
| USAA | $400.63 | $448.80 | $165.71 | $177.18 | $129.29 | $128.36 | $120.82 | $120.75 |
| Geico | $471.13 | $523.25 | $198.24 | $188.57 | $191.91 | $192.70 | $187.26 | $190.29 |
| State Farm | $496.16 | $610.36 | $194.66 | $212.88 | $173.48 | $173.48 | $156.16 | $156.16 |
| American Family | $499.71 | $677.54 | $190.72 | $224.56 | $183.56 | $185.36 | $166.08 | $167.87 |
| Nationwide | $479.70 | $597.94 | $223.87 | $240.75 | $196.71 | $198.95 | $177.52 | $184.55 |
| Progressive | $724.16 | $802.12 | $224.81 | $229.89 | $191.41 | $181.27 | $165.96 | $170.72 |
| Farmers | $710.16 | $762.00 | $245.57 | $253.45 | $213.08 | $213.15 | $194.73 | $204.03 |
| Travelers | $775.61 | $1,070.91 | $193.77 | $207.60 | $181.56 | $183.29 | $171.00 | $172.87 |
| Allstate | $773.52 | $886.88 | $285.41 | $297.58 | $263.01 | $260.25 | $242.78 | $249.22 |
| Liberty Mutual | $968.42 | $1,143.22 | $329.97 | $375.26 | $316.90 | $321.40 | $287.08 | $306.71 |
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How do you lower monthly auto insurance rates?
The more business you can guarantee a particular insurance provider, the more savings they are willing to offer you. Some auto insurance providers also offer home, health, and life insurance.
Pro Tip: Combine all your insurance policies with the same provider, and you can easily save hundreds of dollars every year!
What are the cheapest auto insurance companies?
Take a look at this table to see average rates for major companies in each state, so you can see which are the cheapest auto insurance companies in your area.
Average Auto Insurance Rates by State and Company| State | Annual Average Allstate Premium | Annual Average American Family Premium | Annual Average Farmers Premium | Annual Average Geico Premium | Annual Average Liberty Mutual Premium | Annual Average Nationwide Premium | Annual Average Progressive Premium | Annual Average State Farm Premium | Annual Average Travelers Premium | Annual Average USAA Premium |
|---|---|---|---|---|---|---|---|---|---|---|
| Alaska | $3,145.31 | $4,153.07 | Data Not Available | $2,879.96 | $5,295.55 | Data Not Available | $3,062.85 | $2,228.12 | Data Not Available | $2,454.21 |
| Alabama | $3,311.52 | Data Not Available | $4,185.80 | $2,866.60 | $4,005.48 | $2,662.66 | $4,450.52 | $4,798.15 | $3,697.80 | $2,124.09 |
| Arkansas | $5,150.03 | Data Not Available | $4,257.87 | $3,484.63 | Data Not Available | $3,861.79 | $5,312.09 | $2,789.03 | $5,973.33 | $2,171.06 |
| Arizona | $4,904.10 | Data Not Available | $5,000.08 | $2,264.71 | Data Not Available | $3,496.08 | $3,577.50 | $4,756.25 | $3,084.74 | $3,084.29 |
| California | $4,532.96 | Data Not Available | $4,998.78 | $2,885.65 | $3,034.42 | $4,653.19 | $2,849.67 | $4,202.28 | $3,349.54 | $2,693.87 |
| Colorado | $5,537.17 | $3,733.02 | $5,290.24 | $3,091.69 | $2,797.74 | $3,739.47 | $4,231.92 | $3,270.77 | Data Not Available | $3,338.87 |
| Connecticut | $5,831.60 | Data Not Available | Data Not Available | $3,073.66 | $7,282.87 | $3,672.34 | $4,920.35 | $2,976.24 | $6,004.29 | $3,190.00 |
| District of Columbia | $6,468.92 | Data Not Available | Data Not Available | $3,692.81 | Data Not Available | $4,848.98 | $4,970.26 | $4,074.05 | Data Not Available | $2,580.44 |
| Delaware | $6,316.06 | Data Not Available | Data Not Available | $3,727.29 | $18,360.02 | $4,330.21 | $4,181.83 | $4,466.85 | $4,182.36 | $2,325.98 |
| Florida | $7,440.46 | Data Not Available | Data Not Available | $3,783.63 | $5,368.15 | $4,339.60 | $5,583.30 | $3,397.67 | Data Not Available | $2,850.41 |
| Georgia | $4,210.70 | Data Not Available | Data Not Available | $2,977.20 | $10,053.44 | $6,484.90 | $4,499.22 | $3,384.88 | Data Not Available | $3,157.46 |
| Hawaii | $2,173.49 | Data Not Available | $4,763.82 | $3,358.86 | $3,189.55 | $2,551.83 | $2,177.93 | $1,040.28 | Data Not Available | $1,189.35 |
| Iowa | $2,965.86 | $3,021.81 | $2,435.72 | $2,296.16 | $4,415.28 | $2,735.44 | $2,395.50 | $2,224.51 | $5,429.38 | $1,852.57 |
| Idaho | $4,088.76 | $3,728.79 | $3,168.28 | $2,770.68 | $2,301.51 | $3,032.19 | Data Not Available | $1,867.96 | $3,226.29 | $1,877.61 |
| Illinois | $5,204.41 | $3,815.31 | $4,605.20 | $2,779.16 | $2,277.65 | $2,711.81 | $3,536.65 | $2,344.88 | $2,499.76 | $2,770.21 |
| Indiana | $3,978.81 | $3,679.68 | $3,437.55 | $2,261.07 | $5,781.35 | Data Not Available | $3,898.00 | $2,408.94 | $3,393.75 | $1,630.86 |
| Kansas | $4,010.23 | $2,146.40 | $3,703.77 | $3,220.65 | $4,784.42 | $2,475.59 | $4,144.38 | $2,720.00 | $4,341.43 | $2,382.61 |
| Kentucky | $7,143.92 | Data Not Available | Data Not Available | $4,633.59 | $5,930.97 | $5,503.23 | $5,547.63 | $3,354.32 | $6,551.68 | $2,897.89 |
| Louisiana | $5,998.79 | Data Not Available | Data Not Available | $6,154.60 | Data Not Available | Data Not Available | $7,471.10 | $4,579.12 | Data Not Available | $4,353.12 |
| Maine | $3,675.59 | Data Not Available | $2,770.15 | $2,823.05 | $4,331.39 | Data Not Available | $3,643.59 | $2,198.68 | $2,252.97 | $1,930.79 |
| Maryland | $5,233.17 | Data Not Available | Data Not Available | $3,832.63 | $9,297.55 | $2,915.69 | $4,094.86 | $3,960.87 | Data Not Available | $2,744.14 |
| Massachusetts | $2,708.53 | Data Not Available | Data Not Available | $1,510.17 | $4,339.35 | Data Not Available | $3,835.11 | $1,361.86 | $3,537.94 | $1,458.99 |
| Michigan | $22,902.59 | Data Not Available | $8,503.60 | $6,430.11 | $20,000.04 | $6,327.38 | $5,364.55 | $12,565.52 | $8,773.97 | $3,620.00 |
| Minnesota | $4,532.01 | $3,521.29 | $3,137.45 | $3,498.54 | $13,563.61 | $2,926.49 | Data Not Available | $2,066.99 | Data Not Available | $2,861.60 |
| Missouri | $4,096.15 | $3,286.90 | $4,312.19 | $2,885.33 | $4,518.67 | $2,265.35 | $3,419.14 | $2,692.91 | Data Not Available | $2,525.78 |
| Mississippi | $4,942.11 | Data Not Available | Data Not Available | $4,087.21 | $4,455.94 | $2,756.53 | $4,308.85 | $2,980.48 | $3,729.32 | $2,056.13 |
| Montana | $4,672.10 | Data Not Available | $3,907.55 | $3,602.35 | $1,326.11 | $3,478.26 | $4,330.76 | $2,417.74 | Data Not Available | $2,031.89 |
| North Carolina | $7,190.43 | Data Not Available | Data Not Available | $2,936.69 | $2,182.71 | $2,848.03 | $2,382.61 | $3,078.65 | $3,132.66 | Data Not Available |
| North Dakota | $4,669.31 | $3,812.40 | $3,092.49 | $2,668.24 | $12,852.83 | $2,560.35 | $3,623.06 | $2,560.53 | Data Not Available | $2,006.80 |
| Nebraska | $3,198.83 | $2,215.13 | $3,997.29 | $3,837.49 | $6,241.52 | $2,603.94 | $3,758.01 | $2,438.71 | Data Not Available | $2,330.78 |
| New Hampshire | $2,725.01 | Data Not Available | Data Not Available | $1,615.02 | $8,444.41 | $2,491.10 | $2,694.45 | $2,185.46 | Data Not Available | $1,906.96 |
| New Jersey | $5,713.58 | Data Not Available | $7,617.00 | $2,754.94 | $6,766.62 | Data Not Available | $3,972.72 | $7,527.16 | $4,254.49 | Data Not Available |
| New Mexico | $4,200.65 | Data Not Available | $4,315.53 | $4,458.30 | Data Not Available | $3,514.38 | $3,119.18 | $2,340.66 | Data Not Available | $2,296.77 |
| Nevada | $5,371.62 | $5,441.18 | $5,595.56 | $3,662.09 | $6,201.55 | $3,477.14 | $4,062.57 | $5,796.34 | $5,360.41 | $3,069.07 |
| New York | $4,740.97 | Data Not Available | Data Not Available | $2,428.24 | $6,540.73 | $4,012.93 | $3,771.15 | $4,484.58 | $4,578.79 | $3,761.69 |
| Ohio | $3,197.22 | $1,515.17 | $3,423.01 | $1,867.19 | $4,429.74 | $3,300.89 | $3,436.96 | $2,507.88 | $3,135.16 | $1,478.46 |
| Oklahoma | $3,718.62 | Data Not Available | $4,142.40 | $3,437.34 | $6,874.62 | Data Not Available | $4,832.35 | $2,816.80 | Data Not Available | $3,174.15 |
| Oregon | $4,765.95 | $3,527.28 | $3,753.52 | $3,220.12 | $4,334.55 | $3,176.83 | $3,629.13 | $2,731.48 | $2,892.19 | $2,587.15 |
| Pennsylvania | $3,984.12 | Data Not Available | Data Not Available | $2,605.22 | $6,055.20 | $2,800.37 | $4,451.00 | $2,744.23 | $7,842.47 | $1,793.37 |
| Rhode Island | $4,959.45 | Data Not Available | Data Not Available | $5,602.63 | $6,184.12 | $4,409.63 | $5,231.09 | $2,406.51 | $6,909.45 | $4,323.98 |
| South Carolina | $3,903.43 | Data Not Available | $4,691.85 | $3,178.01 | Data Not Available | $3,625.49 | $4,573.08 | $3,071.34 | Data Not Available | $3,424.77 |
| South Dakota | $4,723.72 | $4,047.47 | $3,768.80 | $2,940.29 | $7,515.99 | $2,737.66 | $3,752.81 | $2,306.23 | Data Not Available | Data Not Available |
| Tennessee | $4,828.85 | Data Not Available | $3,430.07 | $3,283.42 | $6,206.69 | $3,424.96 | $3,656.91 | $2,639.30 | $2,738.52 | $2,739.28 |
| Texas | $5,485.44 | $4,848.72 | Data Not Available | $3,263.28 | Data Not Available | $3,867.55 | $4,664.69 | $2,879.94 | Data Not Available | $2,487.89 |
| Utah | $3,566.42 | $3,698.77 | $3,907.99 | $2,965.57 | $4,327.76 | $2,986.57 | $3,830.10 | $4,645.83 | Data Not Available | $2,491.10 |
| Virginia | $3,386.80 | Data Not Available | Data Not Available | $2,061.53 | Data Not Available | $2,073.00 | $2,498.58 | $2,268.95 | Data Not Available | $1,858.38 |
| Vermont | $3,190.38 | Data Not Available | Data Not Available | $2,195.71 | $3,621.08 | $2,128.21 | $5,217.14 | $4,382.84 | Data Not Available | $1,903.55 |
| Washington | $3,540.52 | $3,713.02 | $2,962.00 | $2,568.65 | $3,994.73 | $2,129.84 | $3,209.52 | $2,499.78 | Data Not Available | $2,262.16 |
| West Virginia | $3,820.68 | Data Not Available | Data Not Available | $2,120.80 | $2,924.39 | Data Not Available | Data Not Available | $2,126.32 | Data Not Available | $1,984.62 |
| Wisconsin | $4,854.41 | $1,513.27 | $3,777.49 | $3,926.20 | $6,758.85 | $5,224.99 | $3,128.91 | $2,387.53 | Data Not Available | $2,975.74 |
| Wyoming | $4,373.93 | Data Not Available | $3,069.35 | $3,496.56 | $1,989.36 | $3,187.20 | $4,401.17 | $2,303.55 | Data Not Available | $2,779.53 |
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Why do auto insurance companies have longer terms?
Auto insurance companies don’t always like monthly policies because it takes time and effort to put together a policy and conduct underwriting (i.e. checking on the risks you pose to the insurance company, which ultimately affects your rates).
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Monthly, Bi-Annual, or Yearly: How do you choose?
Only you will know which of these options is best for you. Much like pay-as-you-go mobile phone plans or other ordinary month-to-month expenses, the benefits are apparent. You’re granted ultimate flexibility and freedom with monthly auto insurance coverage.
Your auto insurance monthly payments will seem more at first, but they will average out over time if you are taking advantage of savings available to you all year.
If you’re shopping around for the best deals on auto insurance, and the cheapest insurance premium available, a more extended agreement usually means less you need to budget for auto insurance each month.
What are the alternatives to month-to-month auto insurance?
Alternatives to month-to-month auto insurance coverage depending on your specific situation and needs. To save money, you can purchase a longer-term policy and bundle it with other insurance coverage types (like home, for example). You can also ask about what discounts you qualify for.
If you’re driving someone else’s vehicle for a short time, rather than purchasing a separate, short-term policy, it may make more sense to ask about being added to that individual’s policy as an additional driver.
What are the pros and cons of monthly auto insurance?
To recap, let’s take a look at the pros and cons of choosing monthly auto insurance plans:
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What are the pros to monthly auto insurance payments?
Pros for monthly auto insurance payments include:
- Provides more Liquidity – If you pay a large amount upfront for a year or six months of coverage, your bank account might be left bleeding. Monthly payments, on the other hand, can be more manageable.
- More Flexibility – Making monthly payments to your auto insurance premium gives you more room to switch to a different car insurance provider or cancel your auto insurance coverage if you need to. Without giving the insurance company all of your money at the beginning, you are left with more freedom.
Up next, the cons.
What are the cons to monthly auto insurance payments?
Now we’ll take a look at some of the cons associated with monthly auto insurance:
- More expensive – Signing a longer contract will get you a better deal, but another hidden car insurance cost of month-to-month insurance is the processing fees. Insurance companies charge you a fee every time they process your payments. When making 12 of these per year, the monthly cost average can really add up.
- Inconvenience – You will be forced to have to pay bills every month instead of once per year.
Not sure how much your coverage will cost? To get a better idea check out this monthly auto insurance calculator guide for the average car insurance cost.
What’s the bottom line?
Care to see how much you can save by going bi-annually or yearly in comparison to buying monthly auto insurance coverage? All you have to do is type your ZIP code in the field on this page.
You can then pick and compare month-to-month auto insurance quotes or quotes for bi-annual or annual auto insurance policies based on your exact, personal needs.
Find a policy that fits your unique lifestyle. See how much each payment term will cost you so you can make a well-informed decision.
The quickest and easiest way to save on auto insurance is to compare live quotes from different insurance companies. Plug your ZIP code into our free quote tool to see the best quotes in your area personalized for your insurance needs.
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Frequently Asked Questions
Can I get auto insurance if I have a bad driving record?
Yes, you can still obtain auto insurance if you have a bad driving record. However, it’s important to note that insurance companies may consider high-risk drivers and charge higher premiums to offset the increased likelihood of claims. Shopping around and comparing quotes from different insurers can help you find more affordable coverage options.
What happens if I lend my car to a friend and they get into an accident?
If you lend your car to a friend and they are at fault in an accident, your auto insurance policy may be the primary coverage. You may be held financially responsible for any damages or injuries that exceed your policy limits. It’s crucial to discuss this situation with your insurer and understand the potential implications.
Can I add someone to my auto insurance policy who doesn’t live with me?
It depends on the insurance company’s policies. Some insurers allow you to add individuals who don’t live with you to your auto insurance policy, such as a family member or significant other. However, each insurance company may have its own rules and guidelines regarding this, so it’s best to inquire with your insurer.
Will my insurance cover someone else driving my car?
In most cases, auto insurance covers the vehicle rather than the driver. If you give permission to someone else to drive your car and they are involved in an accident, your insurance policy may provide coverage. However, it’s important to check with your insurer to understand the details and any potential limitations.
Does auto insurance cover rental cars?
It depends on your policy. Some auto insurance policies extend coverage to rental cars, but usually, this coverage is limited. It’s recommended to review your policy or contact your insurance company to understand the specific terms and coverage limits for rental cars.
What is the difference between comprehensive and collision coverage?
Comprehensive coverage helps pay for damages to your vehicle caused by non-collision events, such as theft, vandalism, natural disasters, or hitting an animal. Collision coverage, on the other hand, covers damages to your vehicle resulting from collisions with other vehicles or objects, regardless of fault.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
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