What Are Policy Terms and Payment Options?
An auto insurance policy is a contract that lasts for six months or a 12-month term. During this period, the insurance company must honor the rates given to a driver, even if there is an accident during this time. As long as you honor the contract and make payments on your account, an insurance company cannot terminate your coverage until your term ends.
If you do not pay your premium in full, you will need to make a down payment. Additionally, you will also have to finance the rest in monthly payments. Here is how it breaks down:
If you choose a 6-month policy, you will need to make a down payment and make four to five monthly payments.
If you have an annual policy, you will need to make a down payment and make nine to 11 monthly payments.
Have anymore questions about an insurance policy? Our agents and customer service representatives are here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. Because we care about your convenience, our offices open from 8 a.m. to 9 p.m. CST. Moreover, they are open 7 days a week.
Additionally, we can help you find an insurance quote right on our website. Because we want to help you save money wherever possible, we offer our insurance quotes completely free of charge. By navigating our website, you can also inform yourself about many useful topics, such as coverage for repairing or replacing parts for your car after a crash, how to file a police report, and why you should never admit fault immediately following a car crash.
Lastly, we also have blogs that may help you with any questions you have. For instance, our blogs cover many different topics. From how to keep your car cool in the summer, to proper steps to take after Godzilla damages your car.
*Please review your own payment contract for details on your payment options. Payment options vary by finance contracts.