Can You Get No Deposit Car Insurance?
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Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
UPDATED: Oct 1, 2020
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.
UPDATED: Oct 1, 2020
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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One effective way to save money on your car insurance payments is to get no deposit coverage. This means not having to pay a deposit fee which is usually 10% of the total amount of the insurance.
Who Should Get this Policy?
This type of policy is designed for those on a tight budget who prefer to pay month to month. So, if you are just starting out and have a good credit score, this may be the right policy for you. This means that you should seek out no deposit car insurance companies who offer this type of coverage.
Read – Financial Benefits of No Deposit Auto Insurance
Note that, this kind of insurance is really for anyone who prefers to pay on a monthly basis, so it covers teens up to seniors. If you prefer paying your premiums each month, then this is the policy for you.
However, this is not a suitable policy for everyone. If you prefer to pay the total amount of the insurance upfront in a single payment, then you will not have to pay a deposit. So, you do not have to seek out an exclusive no deposit policy.
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Can I Get Car Insurance without Deposit?
The answer is yes; many people can get no deposit car insurance for their vehicles. However, this type of policy is not available to everyone so you will have to check to see if you qualify.
Bad Credit Score: People with bad credit ratings most often will not qualify for no deposit insurance because they do not have the good track record of payments. This is particularly true for those who have not established a positive track record of payments on their insurance coverage.
Poor Driving Record: If you have a lot of points on your driver’s license or are considered a dangerous driver you may not qualify for this type of coverage. You will need to check with your insurance company first to see if your driving record may be an impediment to receiving this type of coverage.
There may be other conditions as well depending on the rules and regulations of the insurance company. When you sign up for a free quote with us, you will be informed about what rules apply to your situation.
Which Companies Offer No Deposit Policy?
There are a few that offer no upfront payment for car insurance like Geico and Progressive, which are arguably the two most prominent. There may also be smaller insurance agencies that provide the policy, so you might want to check with your current insurer.
If you are looking to obtain no deposit insurance coverage, then get a free quote from us to compare the different rates that are available. This is a free service designed to help you make the best-informed decision about which company is right for you. It only takes a few moments to fill out the form, and soon you will see which insurer offers the best prices for their no deposit policies, so try it today!
Compare quotes from the top car insurance companies and save!
Secured with SHA-256 Encryption
Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.