Big Down Payments 2 (insurance, vehicle, cost, problem)

[Zosimus]

Here's another way to reduce big down payments.

Imagine that you want 100/300/100 coverage with $500 deductibles on your car. But the large down payment is a problem.

Simply sign up for a state minimum policy without full coverage with an effective date a day or two down the road. Make the lower down payment and then, on the day coverage takes place, call in and raise the coverage levels to 100/300/100 and add damage-to-your-vehicle coverage. Most (but not all) insurance companies will simply spread the cost of the higher level of coverage out over the remainder of your policy.