Driving a car without insurance is like asking for trouble. If you are involved in an accident and/or if people are seriously injured in the other car, and you do not have insurance, just one single accident can financially damage you for life – or, for a long time into the future. There is now such a thing as flexible car insurance policies that make getting coverage easy. Some people simply cannot come up with the monthly payments for full-coverage, or liability insurance. Flexible car insurance coverage allows you to purchase insurance with little or no deposit. You can pay your monthly premium without having a big penalty surcharge. This is much less expensive, and much less of a burden; as opposed to paying for one year of coverage in one payment.
Flexible car insurance allows you to pay at the beginning of each month. This is really great for people who cannot afford to come up with a six-month or years premium. It is also helpful for student drivers. This type of insurance is kind of like a “pay-as-you-go” coverage. Instead of coming up with $750 for a six month premium, or $1500 for a years’ coverage, the monthly payment might be less than $125 per month. There are even now daily car insurance policies that allow people to pay for the specific number of days that they plan on driving, which can be very helpful to some people.
Other flexibility lies in the fact that you can also choose to pay in three, six, or 12 month installments. However, insurance companies have found that 30-day cycles are more popular. Another popular option is to pay the monthly premium directly from your bank account. Since it automatically goes to your insurance company each month you do not need to worry about making the payment – particularly making certain it arrives before the policy lapses. Some people are under a false impression. They believe that if you are involved in a major car accident two months into your insurance that the third month will show a 40 or 50 per cent increase in the premium and this is not true. If you are faced with an increased charge it will happen only at the end of the yearly cycle.