I paid my auto policy in full today. I wanted to know when will it ask me to make payments again. Is it annually?
I bought insurance in December of last year & have paid two installments. I pay 180 every month as a new driver, but I decided to pay the remaining balance upfront as 700$. Now I don't know if that is a discount or if paying upfront covers for half the year
- car253Lv 711 months ago
Some policies are 6 months and some are for a full year. Auto Club has a full year policy. State Farm and Allstate are 6 months. So, it depends on your insurance company. What company is it ? Was the downpayment a "broker fee"?? You better find out. Don't get ripped off.
- 1 year ago
Call your insurance co and ask them. If you paid a full year, you should receive another bill in the month prior to its expiration date. Same thing if you paid 6 months. I used to pay it by the year, but when I bought my last vehicle, I set it up on monthly payments.
- zipperLv 61 year ago
Some states demand insurance cover for a year, other states only requiter 6 months at a time. So it all depends on what state you live in. Hope this is some kind of help.
- Casey YLv 71 year ago
Read your policy...but you are only paid up for 6 months...
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- lucyLv 71 year ago
Normally when you pay the policy in full, then will get a discount. With monthly payments, cost more, plus they add fees for billing you monthly.
Now when you got the policy, then on the front page is a declarations which will show the (total) cost of the policy for 1 year. My guess with 2 payments of $180 each (x 12 months = $2,160) and you paying the balance of $700 is for (6 months) thus would be billed around May/June for the next 6 months.
All policies are written for 12 months, but depending how you pay, either annually (1 time), or semi annually (2 times per year) or quarterly, every 3 months or monthly.
- BLv 71 year ago
call the customer service number on your invoice and ask them
- SlumlordLv 71 year ago
Look at the last policy, it will say when it ran through. Its probably a yearly policy or 6 months but can't say how far into the period your policy already was.
- DEBSLv 71 year ago
Could be anything. Log into your account and find out.
- 1 year ago
If you have made 2 payments then you have 10 payments left. 10 X 180 is 1800, nowhere near 700. I doubt if paying up front would give that big a discount. Read the paperwork or ask your insurance company.
- 1 year ago
It should have told you when your next payment will be due. Talk to your insurance agent or look your policy up online to check.