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Flexible car insurance is a new term in the car insurance industry, and although it sounds catchy, it’s not really anything new.
Only a handful of companies allow consumers to modify, exclude, and customize auto insurance coverage. It’s important to understand that flexible car insurance is more about payment options than actually purchasing custom policy coverage.
The definition of flexible car insurance will depend on which provider you speak with, but most flexible auto insurance policies advertised simply allow customers multiple payment options.
Multiple payment options are not anything new, but it’s a good marketing campaign to let a company stand out from another.
If you’re looking for better and more affordable car insurance, enter your ZIP code above and compare at least three to four policies today!
What are my car insurance payment options?
It is challenging to find an auto insurance company that offers coverage for longer than 12 months since laws do not allow providers to change or cancel your coverage while in force.
The longer an insurer guarantees coverage, the higher the risk they are taking on; so the industry has formed a baseline of six or twelve-month policies as industry standards.
Some car insurers only offer pay-in-full policies, while others allow monthly payments.
When an auto insurance provider offers several options for consumers to purchase insurance, it can be considered “flexible” car insurance. Some of the payment options could include:
- Low Down Payment and Equal Monthly Payments
- Incentive Discount to Pay in Full
- Larger Payments over a shorter term
- Bi-weekly Payments
- Credit Card Payments
- Automatic Checking Account Withdrawal
How to Get the Best Car Insurance for You
There are many ways to purchase auto insurance. However, you need to compare all the elements of a policy instead of just focusing on what payment plans are available in order to secure the best coverage.
If you’d like to compare auto insurance plans and get the best and most affordable, enter your ZIP code below and start comparison shopping today!