About four years ago we stopped paying a yearly lump sum for our car insurance. We had just gotten another vehicle and had two licenses due months apart. There was no way for us to gather the almost 1500 it was going to cost to insure them.
We licensed the van for a year and switched the car to monthly payments of fifty dollars. We were able to set it up to automatically come out of our account on a certain day of the month. When a drunk driving teen smucked our van and our transmission was ruined we got rid of the van and now only had the car.
But we did not change how we do the insurance. I find it way easier to pay every month than to try and save the $$ to pay yearly. It works out to just about six dollars more a year we end up paying, but convenience wise? Stress wise? It saves us a bundle!
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