At most insurance agencies, you can purchase insurance for six or twelve months. There’s no one right answer here. The term limit that’s right for you is dependent on your situation.
Benefits of Purchasing a Twelve Month Policy
Let’s be honest. Dealing with auto insurance can be a pain in the neck. Purchasing a twelve month policy let’s you pay less.
With most carriers, you’ll pay less per month for a twelve month term than you will for a six month term. Ask your insurance broker for more information about the differences of individual policies at six and the twelve months.
You’re locked in for a year. Your cost of insurance will not change in that year even if your carriers rates increase or you have any violations or accidents added to your record.
So When Should I Go For A Six Month Term?
Six month terms are advantageous when you’re expecting an event that can change the cost of your policy. For instance, if you knew you had a violation or accident falling off your driving record within a year, you might want to consider a shorter policy term.
What Else Should I Consider?
While it seems easier to pay a low month-to-month fee, consider paying your premium up front. Your insurance carrier charges a fee–sometimes per payment or a flat fee–for the inconvenience of having to break up your payments. Save yourself some cash by paying up front if possible.
If you have any other questions, remember you can always call one of our friendly agents. Omni Safe Insurance is committed to helping you find the best rates for the auto insurance coverage you need. Contact us today.