Monthly Car Insurance
Monthly Car Insurance. Everyone that drives a car needs to get auto insurance
because it’s simply the law in every state.
However, for a number of reasons, the length of time someone needs auto insurance can vary greatly. A person might be borrowing a car for a month while their vehicle is being repaired.
Also, a person might need to rent a car for an extended
period of time and thus only needs short term car insurance. While not every
major automobile insurer has short term coverage available, many insurers do
allow flexible, monthly car insurance plans.
Read Also: Important advices on car insurance estimate
Average Monthly Car Insurance Rates
The average cost of an automobile policy in 2014 was about
$1,100. This info is based on averaging all the states and getting a median
price. This means that the average American monthly auto insurance rate is
about $92 per month.
In some states such as Maine, the yearly averages are below
$900. One reason Maine and other states have cheaper insurance is because of
their rural surroundings and unique programs such as graduated license programs
for youths.
These programs have cut down on youth accidents and lowered
the cost of insurance for everyone.
While rates for auto insurance have generally been on the
rise the past few years, there are a few states that have actually seen their
monthly auto insurance rates drop.
A recent study conducted by Quadrant information shows
several southern states have actually had their premiums drop by up to 5%.
These include North Carolina, Arkansas and Georgia. Other
states like California and Nevada have witnessed insurance rates escalating
because of an increased number of claims and silly accidents, such as texting while
driving.
Monthly car insurance cost
There are several important cost factors that come into play when getting month to month car insurance. Several of these include:
- The vehicle you are insuring
To get the cheapest rates, get a car that is cheap to insure. It’s that simple.
- The age of the policyholder
Drivers under 25 and especially male drivers, pay more than double for auto insurance. If you’re a youth driver who needs car insurance for a month or two, try adding your short term coverage onto your parents plan.
Your coverage will still be expensive but not nearly as much
as it would be if you bought a separate policy.
- Your credit
Even though you are getting insured for just
a month or two, your credit will be a key component of the monthly car
insurance rates you pay. The higher your credit score is, the lower your policy
rates will be.
- Your area
Insurance companies have massive amounts of
data on every zip code in the USA. The more dangerous and crash prone a zip
area is, the more your car insurance will cost you.
Why consider getting month to month car insurance?
Here are a few reason you should consider buying monthly
automobile insurance.
* Low upfront costs. Instead of paying over $1,000 for a
twelve month policy, your can pay just a fraction of that amount for a
30 day car insurance policy. If you choose to continue the
coverage later, your policy can be increased to a normal 6 months or even a
year.
* Flexible plans. With such a short term policy, you can
“test drive” the insurer and the coverage amount you selected. Once the month
is up, you can renew your coverage or get a new policy with a different
insurer. The choice is yours.
Cheap monthly auto insurance online
The best place to find great low rates on month to month
auto coverage is online. Use free quoting services like
CarInsuranceEstimate.org and you will be matched to the cheapest insurer in
about five minutes.
You can also get a free car insurance estimator quote in
only a few seconds. This info will give you an idea of the monthly costs of
insuring your vehicle. Get your quote today and see how easy saving money on
automobile insurance can be. (*)
