First Month Free Insurance – Negative Financial Situation
Do you want to insure your vehicle now, but your financial situation is terrible? Can’t you afford the insurance upfront deposit? It usually is around 20% of the total amount. Are your circumstances so difficult you cannot pay $100 or more for a down payment? Do you need a car to go to work every day, and you are not willing to bear the consequences of driving without insurance? So, you are involved in a dilemma without knowing how to solve it.
If your current situation is described above, you might still find a way out. Some companies provide first month free car insurance. This might be hard to believe, but it is true. They offer this type of discount to catch the interest of new clients. Insurers would extensively compensate that first month free of charges with the rest of the policy payments.
What Are the Advantages of No Down Payment Auto Insurance Policy?
Obviously, the main advantage of a zero-down policy is to obtain car insurance coverage without the need for paying in advance. This type of policy is useful for those who have temporary cash problems. That is, there might be drivers who need to get insurance right now and, for the moment, are short on cash. So, this kind of policy could be a solution for them. Their policy would completely cover them during the first month.
A clear example would be those who have recently acquired a new vehicle and spent a lot of money on the down payment, sales tax, and registration fees. Often, the remaining money is not enough to buy coverage. Therefore, a fist month free car insurance deal becomes an attractive solution. You could guarantee your policy and have your car properly covered, with only a one-month grace period to start paying your premiums. This way, you could be covered until your financial situation gets better the next month.
Nowadays, competition for new clients is tough, particularly online. Therefore, insurance providers are offering significant discounts to attract the attention of new consumers. Although average coverage prices have increased in recent years, due to these discount strategies, people who try to have the funds for insurance could find an affordable option.
Could You Save By Purchasing A Zero Down Insurance Policy?
Well, the answer could be yes, and could also be no. Confused? It depends on two things: the risk involved as a driver and the insurance company you select. For example, for some insurers, you could be such a good applicant that deserve to be offered a no down payment policy and also, with the cheaper premiums you have ever paid.
You could find providers for a whole month with no further charges. For instance, if you buy a policy for 12 months and cost $1100, the first 30 days could be free of charges, and then the next eleven months, you would pay $100 each month (totaling $1100). This offer couldn’t be a disadvantage for you.
Before purchasing this type of coverage, you must ensure that there are no hidden fees tied up to the policy that could unpleasantly surprise you in the future. So, you should shop around with direct insurers and study the different plans they offer. During your search, consider smaller providers that could provide you some of the best prices.
However, if you have a slightly spotted driving record, you could still be eligible for a 1st-month free car insurance policy. The disadvantage is that premiums could be a little more expensive than other policies with a down payment as a requirement. But if you are going through a cash squeeze, spending a bit more money on your policy could be a good option. In the end, you would get the whole first month of insurance free of charges.
You could get a 2% discount, or more, from most companies when you pay for the whole policy in advance. This way, you could save some money, but it is a valid option only for those who could afford it. Nevertheless, if you are in poor condition, financially speaking, it may be a wiser option to make your payments monthly. Therefore, you could save as much money as possible in your bank account.
First Two Months Free Car Insurance
There are a lot of customers looking online for the best auto insurance policy. Therefore, insurance providers should be extraordinary to attract consumer interest. They should offer considerable discounts to seduce new clients. A handful of insurance companies are now offering the first two months free.
It could be a huge motivation because you have been covered two whole months without paying a down payment. This option could be perfect for those who need car insurance immediately but don’t have the money to pay expensive installments in advance. This could be useful for drivers that are starting a new job and use their cars to earn money, such as an Uber driver.
Even if you have purchased a two-month free auto insurance policy, you must pay the full amount of your premium. The owed amount would be added to the monthly premiums that you would pay later. Typically, insurance companies offer this option to current clients who still have one year or more of continuous coverage but who need to renew their policy right away.
However, recently, some agencies have also offered these special plans to new clients. Therefore, insurance providers offer such agreements “in good faith”. This way, they could maintain quality clients by renewing their policies while obtaining other new clients that benefit from these deals.
How to Get First Month Free Auto Insurance?
Through the internet, most people could go online and find the exact policy (amount of coverage and rates) to meet their particular requirements. You should shop around before purchasing your insurance, especially if you are in a cash bind and need a no down payment policy. A lot of people get online quotes from companies such as Geico or Progressive, the top TV advertisers. However, these providers might not always offer the cheapest rates.
It Would Be Best If You Shopped Around for Better Rates
You should get a minimum of ten quotes to compare. You may think it could be a long procedure, but you would get results in less than 20 minutes. There are many websites whose purpose is to help you find the exact coverage and terms you desire. You could evaluate several quotes in 5 minutes or even less, and it’s totally free.
Online Rates vs. Brokers and Agents
Online rates could be cheaper than the ones you get through brokers and agents. Several consumers who have bought their car insurance online have reported savings of $500 or more.
Another advice is to get all possible discounts for which you are eligible. They could save you hundreds of dollars in premiums every year. Read below to know some of these discounts:
- Good Driver
- Senior Citizen
- Garaged Vehicle
- Good Student
- Active Military or Veteran
- Almost anyone can qualify for a discount
Do you need First Month Free Car Insurance? You are now up to date with the particulars on getting this type of deals. So, you are prepared to go out there and buy the policy that fulfills all your needs. Traders Insurance could be your best option. Get a free quote now and save big!