How much & how often do you pay for your car insurance?

For the last few years I’ve been fortunate because my dad has had me on his car insurance plan, therefore I only had to pay $32 a month. But as life goes, all good things must come to an end. Unfortunately, it’s time for me to grow up and start my own big-girl car insurance. :(

I’ve been shopping for car insurance for the last few weeks and think I found a safe deal for my car. However, I cannot decide how to pay my car insurance! Each month? Every six months? Every three months? I don’t know whether it would be better for me to save each month a specific amount then pay it off half a year, or just automatically pay it each month.

So two little question for the masses:
1. How much a month do you pay for your car insurance?

2. How often do you pay your car insurance? Do you like getting it out of the way each month? Or would you rather pay it off in one large chunk?

Please comment below! Thank you!! :)

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  • http://moneymaus.blogspot.com MoneyMaus

    Hi MPP! I started paying for my own car insurance as of this year. I have AAA. Since I’m not 25 yet and I live in CA, my rates are a bit higher even though I have a clean record. I pay annually because if I want to pay monthly, there’s a finance charge! No thanks! So I’ve been saving $115/month and then will pay in full when Oct rolls around…but I get a 7% refund if there are no claims each year!

    I’m excited to turn 25 so my premium will decrease! ;)

  • Hils

    Hi there!

    I pay every month, $106 total for both my husband and myself. If you pay all at once it should be a little less than if you pay each month like I do. I use Geico, because they were the cheapest. Let’s hope none of us ever have to put in a claim! Safe traveling.

    Hils

  • http://savernotaspender.blogspot.com/ Serendipity

    I pay 138 bucks a month for full coverage on a 05 Malibu. I do live in Las Vegas which has a high auto theft rate though, sad to say.

  • http://payingformypast.blogspot.com In Debt

    I pay twice a year to avoid the fees. We drive older cars, we are older and married….all which reduce insurance rates. But I’m covering 3 cars for approx. $465 every six months. So I put $78 in the savings account every month, and it’s all sitting there when the bill arrives.

  • http://ifiwereawealthygirl.blogspot.com Broke by Choice

    I pay $631.20 for six months for full coverage on my 2007 car,

    I make the payment to the insurance company every 6 months, but I set aside $52.60 every two weeks in a savings account so that when the money comes due I have it.

  • http://teacherfinance.blogspot.com TeacHer

    I live in Alexandria, VA and I pay $66 per month, which works out to about $790 per year. I pay it monthly because since I do the auto-debit from my checking account, I don’t have to pay a service charge.

    BTW, I have a 2006 Scion tC.

  • http://girlwithredballoon.blogspot.com Red

    I’m 23 with a 2005 model car that is paid for, and I pay $46 a month for full coverage car insurance. I like paying it every month because 1) it means that big annual payment doesn’t sneak up on me and 2) I get a small discount for paying each month through auto draft. Good luck to ya!

  • Becca

    When I had a car, I did the 6 month payment but transferred the equivalent of the monthly amount to a savings account every month. It never earned a ton of interest, but it earned some!

  • http://eemusings.wordpress.com eemusings

    I don’t really drive. BF is my chauffeur :) He pays about $300 a year, or we do. Paid annually. (Our contents insurance is close to $400 and we pay that quarterly, due to cash flow problems when we first got it. I want to get ahead so that we can pay it once a year too and save a few bucks on the premiums).

  • http://eemusings.wordpress.com eemusings

    Oh, and it’s basic third party and fire insurance. Not full coverage. (Car isn’t worth much…but if it bursts into flames I guess we’ll be covered :)

  • kycam

    Wow, apparently this is way more expensive in Canada no one I know pays under $130 a month up here. I live in a major city and pay $313 per month for a 2005 car with safe driving discount sitting at 10% my safe driving should be higher except for a couple of incidents with black ice several years ago. Cheers.

  • SP

    I pay something like $300 every six months for t and i. Liability and comprehensive only, no collision. I think i also set my libability limits quite high. There are half a million dollar cars on the road in these parts!

  • http://shakingthemoneytree.blogspot.com jolie

    Mine works out to about $90 a month if I pay monthly, a bit less altogether if I pay once a year. That is the basic insurance policy from the province. I also have a more advanced package policy that runs $300 a year.

  • http://www.youngblackandprosperous.blogspot.com YBP

    I pay a little over 700 every six months. I also transfer the equivalent to 1 month’s payment in to an ingdirect account used specifically for car and car expenses. Then when it is time to pay the premium I just pay it out of my ingdirect checking account.

  • http://www.bucksomeboomer.com Bucksome

    I pay monthly but will change it to semi-annually once my son is off my policy. He’s 24 and should be done with school in a few months.

  • Michelle

    I live in Woodbridge, VA. Drive an 05 Acura TL and pay $110/mo to State Farm. Full coverage and includes renter’s insurance. I choose to pay monthly since I’d have to budget for the insurance monthly anyway to even get up to the full 6 month amount.

  • http://forestonfinance.com Forest

    We’re paying about $76 a month for 2 cars using AAA insurance. When I was under Progressive I would pay once every 6 months because you got a discount, but that’s not the case with AAA, so it’s monthly.

  • http://www.lauradishes.wordpress.com laura dishes

    I’m 26, live in Atlanta, and drive a ’09 Honda Accord Coupe. I pay Geico $446 every 6 months, which is about $74/month. It’s slighter cheaper for me to pay per period as opposed to each month. I love Geico… great value (coverage) for the cost!

  • http://savvymoneypincher.blogspot.com/ Karin

    Wow! Insurance in the States are cheap compare to what I have to pay here in Canada! I have to pay $2600 a year for a 2009 Mazda! ~><~ and that is with a 20% discount already!

  • http://meinmillions.blogspot.com/ me in millions

    I pay about $470 twice a year for a relatively new car.

  • http://moneysmartfashion.blogspot.com Grace

    a little late on this, haha. but I pay about $900 for an 09 in Maryland.
    I usually pay three times a year to limit how often they slap a service charge on me. For me it always ends up cheaper paying a lump sum a couple times a year but i know plenty of people that like to pay month to month.

  • Mike W

    I prefer to pay it quarterly, but some love those who let you pay monthly. I find it too much of a hassle to remember to pay every month.

  • http://carbasics101.blogspot.com/ Dr. Rivers

    To be honest with you. I do not have car insurance. Why because I believe that the best way to stay out of trouble is by driving carefully. Nevertheless, I should buy an insurance for my car.

  • dudeman

    26 dollars a month. minimum coverage. rural california. 10,000 miles per year.

  • dudeman again

    27 year old male for dudeman, btw.

  • guest1992

    i pay that much every 6 months in canada! for a 2007 dodge charger

  • longview82

    so all of last year I paid $471 for just liability on my 99 honda accord… now i pay $270 per month for just liability on same car….
    guess it doesn’t help that I had a DUI and a Reckless a couple of years ago… and that I live in Florida… I’m halfway through my term of having to pay for the fr44 filing

  • Min

    I just received a offer of renewal, I need to pay $490 a year for farmers with 30/15/15, and Towing coverage for 2001 mitsubishi galant.

  • LadyDi

    where do u live? r u the only resident of ur city?

  • Diana Munoz

    What insurance is this?

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  • noruvuq

    I pay $19/month for liability only from 4autoinsurancequote, but i also drive a cheap car, so it might be more expensive for other people

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