How much do you pay in car insurance? | NeoGAF Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse. Hey Guest. Check out the NeoGAF 2. 2 Update Thread for details on our new Giphy integration and other new features. You are using an out of date browser. It may not display this or other websites correctly. You should upgrade or use an alternative browser. Status Not open for further replies. Dec 3, 2006 37, 578 0 1, 260 #1 I pay 580/month. I was in a car accident in 2012 and Allstate won't let me forget it. #2 I pay around 400. What kind of car do you drive? Feb 3, 2005 20, 528 5 1, 265 #3 holy crap. I pay like $750 every six months for 2 cars and a motorcycle. edit: this is for 2 people too. Dec 6, 2008 85, 719 383 1, 455 #4 That's insane. What a racket. #5 60 bucks a month for me. I'm still under my mom's name and I've never been in an accident. $580 is insane #6 Me and my wife pay $480 every six months through Geico.
The August guidance from the FCA was due to expire on 31 October 2020 but the FCA said on 16 October that insurers must continue to offer 'tailored' support to customers facing payment difficulties. This must include those newly facing problems, perhaps because of job losses or only working part-time. The FCA made clear this advice no longer had a final end date. "Guidance should remain in force during the circumstances created by coronavirus until varied or revoked, " it said. If you are struggling to pay – get in touch with your insurer at once. What is annual car insurance? The standard payment option offered by all insurers is to pay for your car insurance upfront for the full year, in one single payment. This gives you access to deals from more insurers, as some only offer annual payment plans. You're also likely to find a cheaper price by paying upfront. But many drivers find it difficult to pay the full amount upfront – this is especially the case for young and inexperienced drivers, as their premiums can often cost thousands.
Spreading payments over ten or more months can be attractive. It is estimated that about 40% of customers spread the costs of their car insurance premiums over the year using 'premium finance'. Premium finance is like a loan – the insurer gets its money and you get to pay back the loan over the year. Can you pay for your car insurance monthly? If you can't afford to pay upfront for the full year's insurance on your car, don't worry. Many insurers offer the option to pay for your cover in monthly instalments. Spreading the cost of your insurance over the year can make it more manageable as you won't have to find such a large lump sum at the start of your policy – though you will need to pay a deposit. The big drawback, however, is you're likely to pay more if you choose to pay monthly. Most insurers will add an extra fee for monthly payments as well as charging interest. You are effectively taking out a loan. Why can't I pay for monthly for car insurance? Not all insurers will offer the option to pay for your car insurance in monthly instalments, but even if they do you may not be able to pay this way.