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Today for the first time i paid my auto ins for the year in full (7/11-7/12). For min liability req by ca law i paid $264.00. The last few yrs was $280.00. By paying in full i saved myself $23.00 in service charges & stamps. That may be not much to many but its like 1 month of free internet service for me or 6 gallons of gas or 2 big bags of dry cat food or whatever i want or really need for a max of $23.00. Does anyone else pay their premiums in full to avoid the service charges & possibly other fees ? This is rare for me but i just got tired of throwing away money. The ins companies make enough money off us as it is so why give them anymore. Some thieving ins companies charge $5.00 mo service charge. Mine charges $2.00 mo which isnt too shabby.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Never paid monthly, for some reason. I have always paid every 6 months, for three cars and full coverage it runs me about $900 in April and again in October.
If my premium was only $264, yes I would pay it in full without question. As it is my premium runs around $1,200 for 6 months. I find it worth the extra $12 or so they charge me to do monthly EFT's for the payments versus handing them a lump sum.
The ins companies make enough off of us so they should all waiver the monthly service charges & pay for the postage. I have paid more for ins in the past 3 yrs then what my car is worth. The auto ins company i hate the most is the hartford. I wish them all the worse. UGH !!
If my premium was only $264, yes I would pay it in full without question. As it is my premium runs around $1,200 for 6 months. I find it worth the extra $12 or so they charge me to do monthly EFT's for the payments versus handing them a lump sum.
You're lucky you're not in Michigan, where rates would be double that, even in remote, rural counties, for nothing but the legal minimum liability. And if your car is totaled by another driver (who also pays those rates), their insurance doesn't even cover your loss.
Thanks to the miracle of "no-fault insurance"---more accurately known as "Your fault insurance". Every accident is your fault, regardless of the circumstances.
We're talking about $8-900 a year, one car, retired driver not commuting to work, same insurance company for 20 years, no claims, no tickets, in a town in Northern Michigan.
I pay in full every 6 months. I just save the money every month as if I were making payments. It saves a little bit of money and is one less bill to deal with on a monthly basis.
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