How to Save On your Insurance Premiums

by andre1 on September 15, 2009

{ 4 comments… read them below or add one }

1 iniyaitza September 15, 2009 at 4:21 am: Myth or Fact? Being one month ahead of your monthly car insurance premiums saves you money.?
Let me know what you think about this tidbit of information!
2 tonalc1 September 15, 2009 at 9:23 am: You pay the total no matter how you pay it. Perhaps it’s the service fee you save for the one month you paid in advance. Probably a whopping $6.00.
References :
3 katlyn September 15, 2009 at 9:25 am: Yes it does, and it might be a lot depending on the interest rate.

Any additional amount that you pay on any interest bearing loan will save you money. If you take the amount that you pay ahead, and multiply it by the interest rate and the number of years left on the loan, that’s about how much you save.

See how it works out for you.

Sorry! I thought you were asking about payments when I answered. I just saw that it’s premiums, so I don’t know.
References :
4 bostonianinmo September 15, 2009 at 9:27 am: Most insurance policies charge a flat fee for making monthly payments. If you are a month ahead, you’ll pay off the policy a month early and save the last month’s fee. This typically ranges from $1.50 to $6.00.

If your policy doesn’t charge a fee for making payments (USAA, for example) then it won’t save you any money.
References :