Having a 12 month car insurance policy may prove difficult for some people, as they may not be able to save money over a 12 month period to pay their annual insurance premium. Some or the other unavoidable expense may make a hole in their savings and they fall short at the time of payment. This is why many people are now opting for shorter frequency payment plans such as month to month payment.

An auto insurance 12 month policy makes it difficult for the unemployed and low income earners to make ends meet while also save for the annual payment. Any means of reducing their financial burden is always welcome. Month to month payment makes perfect sense for such people as once they have paid off the installment; they can use the money in hand the way they wish to.

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It is often observed that after purchasing 12 month car insurance new driver maintains discipline in saving for the annual payment for the initial two to three months. But this disciple goes kaput, thereafter. An unforeseen expense or an urge to buy something gets the better of good sense of saving the money. And, you end up spending the money which otherwise should have been saved for the payment of your auto insurance premium.

If you find yourself in a similar situation, it is time you did some research and found insurance companies that let you pay more frequently. During the course of your research, you will come across 12 month car insurance companies that let you pay more frequently, say every six months or month to month, if you so wish.

When the payments are smaller, finances are easier to manage. You clear off the monthly installment and use whatever money is left as you wish. Yes, there is an additional fee applicable if you opt for more frequent payment instead of 12 month car insurance policy, especially month to month, but that can be offset by discounts such as good driver discount. It can even lead to an improvement in your credit, as you minimize chances of default or delay.

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You may be disciplined when it comes for saving towards payment of your auto insurance 12 month policy, but not everyone has the same discipline. For them, breaking the payment into more frequent installments makes better sense. Therefore, evaluate your financial situation and decide accordingly.