Where Can I Get Auto Insurance With No Money Down?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WII am not aware of any company that will currently accept a risk without payment and even then there the policy may be cancelled or non-renewed if it is found to have been obtained with fraudulent information. The insurance company is taking on a huge amount of risk with every policy that they write. Typically they do not want to take on that risk if the person looking for coverage can not pay for the coverage in advance. Every policy is different. Please read your policy completely to understand the coverage provided and exclusions that are contained within or contact your local agent to go over the policy with you.Answered on May 23, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaAn insurance policy is a legal contract. A legal contract always requires “consideration.” That means money must change hands. I could promise you a free trip to the moon but if you don’t pay me anything the most you could sue me for would be “breach of promise.” You couldn’t say I broke a contract even if my promise was in writing. Insurance is based on the idea that the premium is paid prior to the start of coverage. I doubt you will find anyone that will truly provide insurance without a down-payment and if you do, check to make sure you aren’t taking out a loan to do so.Answered on June 18, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! If you can find an auto insurance company that will insure you without a payment first, let me know, will you? Unfortunately the way insurance works is that they accept the risk of insuring you, once you have agreed to, and started, making payments. I'm sorry, but I don't know of any company that will issue insurance without money paid first. Thanks for asking!Answered on June 18, 2014flag this answer
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