Full-Payment Discount: How Much Can You Save?
At least 17 national providers offer an affordable full-payment auto insurance discount as an incentive to customers. The average cost of auto insurance is $503 for a six-month policy or $1,007 for a 12-month policy. To qualify for a full-payment auto insurance discount, pay for your policy in one lump sum instead of monthly installments. Expect full-payment auto insurance discount rates to be 10.5% cheaper than average.
- You can save an average of 10.5% on your premiums with a full-payment auto insurance discount
- 17 major insurance companies offer this savings opportunity to customers
- To qualify, pay for your six or 12-month policy in one lump sum instead of monthly installments
By qualifying for a full-payment auto insurance discount, you can save an average of 10.5% on your annual premiums.
Keep reading to discover what providers offer this savings opportunity and learn how to secure cheap auto insurance rates.
After you learn about affordable full-payment auto insurance discounts, enter your ZIP code into our free quote tool above to receive rates from the leading providers near you.
What companies offer a full-payment auto insurance discount?
There are a handful of hidden auto insurance discounts that are very common, and many customers don’t realize how easy it is to qualify for them.
One of those easy-to-earn savings opportunities is the pay-in-full discount.
A full-payment discount is a standard discount offered by at least 17 different national insurance providers across the country.
Take a look at the list below to see if your current provider offers this discount:
- American Family
- Country Financial
- Liberty Mutual
- Safe Auto
- The General
- The Hanover
- The Hartford
Fortunately, if you want to buy full-payment discount auto insurance, you have plenty of options.
But keep in mind that each company uses different qualification rules and provides customers with varying levels of savings.
Therefore, the best full-payment auto insurance discount company for one driver might not be the same for another.
However, expect to save an average of 10.5% on your annual premiums with a pay-in-full discount. With many companies, you can stack these savings with other auto insurance discounts.
Therefore, it’s worth comparing multiple providers, like the Allstate, Farmers, or GEICO discounts list, so you accurately know what provider can reward you with the most significant rate reduction.
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What is a full-payment auto insurance discount?
A full-payment auto insurance discount rewards customers with a slight rate reduction for paying for their entire policy upfront instead of in monthly installments.
According to the National Association of Insurance Commissioners (NAIC), the average cost of a six-month policy is $503, and a 12-month policy costs $1,007.
If you can afford to pay that total when you sign your contract, you may receive an additional percentage off of your rate, depending on what provider you use.
Full-Payment Auto Insurance Discount: The Bottom Line
Overall, a pay-in-full discount is a common savings opportunity that many people can easily earn.
A company might not advertise the discount, but savings might still be applied to your account if you pay for your policy in full.
For example, there is technically no GEICO paid in full discount, but paying for your policy upfront does lead to rate reductions.
Now that you’ve compared full-payment auto insurance discount rates, enter your ZIP code into our free quote tool below to receive premiums from the top companies near you.