Car insurance is one aspect of driving we must all obtain, without car insurance a driver puts themselves at risk of being liable for any car accidents and prosecution by law enforcement. The problem many of us have with car insurance is the high cost of beginning or reinstating lapsed coverage, but their are options for finding low cost car insurance often without a large down payment required to begin coverage.
To begin a no down payment car insurance policy a monthly payment plan is usually begun by the policy holder with direct payments made from a bank account to cover payments to the insurance company. Instead of beginning the policy with a large down payment, often of hundreds of dollars a no down payment policy is usually begun with the first months payment used as a form of down payment to open the policy and begin the coverage.
Many no down payment policies are available through insurance companies offering low cost insurance policies that offer coverage meeting the minimum state requirements to be legal. By obtaining this minimum insurance policy the driver avoids any heavy fines and penalties associated with driving without insurance that can lead to higher costs than paying the monthly installments associated with a no down payment insurance policy.
Now down payment insurance options include the payment of the entire policy for a specified amount of time, including 3 month to 18 month options in many states of the US. By paying a one time payment the overall cost of car insurance is lowered as processing fees charged each month are removed leading to a lower overall cost. Those choosing to pay for an insurance policy with monthly payments and no down payment do pay a little more each month than making a single payment, but the cost can be spread across a longer period of time to ease the problem of paying insurance costs.