In most cases, you have to pay your car insurance bill once or twice a year. How often you pay your car insurance premiums depends on the company and your preferences, but annual or semi-annual payments are best. That's because most car insurance policies last six or 12 months, and most car insurance companies offer a discount (up to 20%) for paying the premium in full up front. Digital commercial line insurer Next Insurance will reduce April premiums by 25 percent for its customers with general liability, professional liability and commercial auto policies.
Because many small businesses struggle as a result of stay-at-home requests, Farmers Insurance announced that it will provide help to more than 115,000 of its commercial insurance customers. Geico has many other discounts you could qualify for to reduce your car insurance costs. You can't get an auto insurance policy without making a first-month payment, but GEICO, State Farm and Progressive offer affordable monthly payment options. In addition, for all commercial insurance customers, Farmers allows commercial insurance customers more time to pay for their policies.
Finally, it's worth noting that most auto insurance quotes are based on a six-month policy that is paid in full at the beginning of each period. Direct sales of insurance to the consumer eliminate the cost of middlemen and allow Geico to have far fewer local offices and agents than companies like State Farm and Allstate. Very cheap car insurance with no deposit actually means paying the lowest possible monthly cost up front. Every insurance company determines its rates differently, so even though Geico is among the cheapest car insurance companies, the best way to ensure you're getting the cheapest rate is to compare quotes from several insurers.
Liberty Mutual Insurance offers personal auto insurance customers a 15% refund over two months of their annual premium. More and more car insured and small businesses are receiving discounts on their insurance premiums to help them overcome the coronavirus crisis.