Is Car Insurance Prepaid?

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   David Osgood

   Agent, Rural Mutual Insurance Co., Union Grove, WI

   Yes, automobile insurance is typically paid in advance. Normally no less than thirty days at a time. Each carrier sets their own requirements as to the initial payment amount for new coverage. Most carriers allow clients to pay monthly, quarterly, semi-annually, or annually. If you pay your premium in full for semi-annual or annual you may also receive a discount on your rate ( this is solely at the discretion of the carrier ).

   Answered on August 13, 2013

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