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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: GoodLifeStudio/Getty Images February 01, 2022 Jessie See has a year of experience writing for Bankrate, Reviews.com and other insurance domains. She has covered topics ranging from auto and homeowner’s insurance to life insurance. She has been writing professionally for over a decade with experience in a variety of different topics and industries. Prior to becoming an insurance writer, she worked as a legal assistant in the field of personal injury law and as a licensed sales producer at various insurance agencies. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Shopping for auto insurance may not be the most exciting part of being a car owner, but helping you navigate the important process and understand your options is where Bankrate makes the experience easier. With your auto insurance needs changing throughout the years, it is important to know what opportunities you have to evaluate and adjust your coverage. What drivers may not realize is that some car insurance policies operate on a six-month basis, rather than an annual basis. While there are advantages and disadvantages to each policy type, six-month car insurance policies are a common option, so it could help to know how they differ. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More RATE INCREASE ALERT Rates increased up to 12% this year
Shop for a better rate before you renew your current policy. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More What is 6-month car insurance
When you get a quote for car insurance, you may have the option to choose between a six-month or a 12-month policy. While not all companies offer this option, it may be helpful to know that different policy terms exist. A six-month insurance policy simply means that your policy is effective (and priced) for a period of six months before it will be up for renewal. Every time an insurance policy renews, the is able to re-evaluate the driver’s circumstances and level of risk, and then determine if any changes to the premium are necessary. As part of this process, insurance companies may evaluate claim statistics in your area to determine if your current rate is enough to account for potential claims payouts. If recent statistics show that claims occur at a higher frequency and payout, your insurance company may apply a company-wide rate increase. Conversely, lower claims may result in lower rates at the time of renewal or even rebates to existing policyholders. However, these rate changes can only be applied to a policy at the time of renewal, so a shorter policy term may allow rate changes to occur more frequently. How does a 6-month car insurance policy work
When you receive a quote for a six-month car insurance policy, you are selecting a set of that will protect your finances for the policy’s duration. The insurance company’s underwriting team will determine your premium based on a variety of factors, including your age (in all states but Hawaii), gender (in most states), driving record, insurance history, location and vehicle type, as well as the level of coverage you select. Depending on what you qualify for, your six-month insurance costs may be reduced. When your policy term is coming to an end, your insurance company will evaluate your premium and send a new renewal offer which states that it will renew your policy for another six months at a specified rate. However, this rate could be lower or higher than what your original policy cost. Pros and cons of a 6-month auto insurance policy
Although six-month auto insurance policies are common, there are a few considerations that may motivate a driver to consider opting for a 12-month policy. While you may be used to carrying a semi-annual policy, it may be worth receiving a quote for an annual policy just to compare your costs. Here are a few pros and cons to a six-month auto policy: Pros of a 6-month auto policy
Policy flexibility: When you have a six-month auto policy, it tends to be more flexible due to the frequency of renewals. If your company has taken a rate decrease or you recently had a ticket fall off your driving record, you may see your savings much sooner. Frequently revisit insurance needs: If you expect your insurance needs to evolve rapidly over a period of a few years, you may appreciate the opportunity and reminder to modify your policy at every six-month renewal. For example, if you have a history of claims or tickets on your driving record and are considered a , a six-month policy may be better suited for you. As each ticket reaches the three- to five-year mark, it may no longer surcharge on your policy. With a policy that renews more often, you might be able to see your premium drop faster. Switch carriers sooner: Although you can for any reason at any time, some carriers may apply a cancellation fee if you cancel your policy mid-term. If you are unhappy with your insurance carrier, a six-month policy means you may not have to wait as long for your renewal period to come up so you can change providers. Cons of a 6-month auto policy
Premium increases: When you purchase a 12-month auto insurance policy, your premium is locked in for an entire year (unless you make changes like adding or removing a vehicle or driver), but with a semi-annual policy that renews every six months, you could be facing rate increases sooner or more often. Potential to forget renewal dates: When you purchase a 12-month policy, you have the option to pay for the entire expense of your policy for a full year upfront. When you have a six-month policy, you might be more likely to forget your renewal dates, since they occur twice a year, and could potentially miss a payment, causing a . Possible missed discounts: If you no longer qualify for a discount after your policy renews, a six-month policy could mean you lose that savings sooner. Discounts for new policyholders, for example, could net more savings over a 12-month period instead. How do I know if a 6-month policy is right for me
The best type of auto policy should be determined based on your unique situation. Just because your friend is getting a great rate on their annual policy does not mean you will get the same rate if you switch from a six-month policy. However, you may prefer the advantages to a longer policy term if your insurance needs are fairly set. The is based on a variety of factors that can greatly influence your decision to choose a longer or shorter policy duration. A six-month policy may be a great option if you prefer to revise your policy on a more frequent basis, or if you are switching to a new carrier and are unsure if you will be happy with your choice. Additionally, if you know you have a ticket or other traffic violation falling off your driving record soon, you may not want to lock in your higher premium for a whole year with an annual policy. Some providers may not offer both a six-month and 12-month policy, so that is another factor you will likely need to consider. Frequently asked questions
Do 6-month auto policies offer the same discounts as 12-month auto policies
Every company will offer unique discounts so your savings could vary greatly between two policy types. Generally, companies will offer common discounts like multi-car discounts, multi-policy discounts and good driving discounts regardless of the length of your policy. Since discounts are typically percentage based, your savings will mostly depend on what percentage each company assigns each discount. Should I pay my 6-month policy in-full or in monthly installments
It depends on your financial situation and how you like to handle your bills. Generally, most insurance companies will offer several payment methods to give customers the ability to make payments based on their individual financial situation. For example, if you have a tight budget and do not have a lot of extra cash to pay a policy in full, you may prefer a monthly payment plan. Some companies offer discounts when you pay in full, which could make it even easier to find cheap six-month car insurance. Is the coverage offered on a 6-month car insurance policy better than coverage offered on a 12-month policy
When you purchase an insurance policy, the coverage you purchase offers the same protection no matter how long your policy period lasts. In other words, if you need coverage on your truck and plan on purchasing , both a six-month policy and an annual policy would offer the same coverage types and limits based on the provider you choose. The main difference between purchasing a six-month car policy and an annual insurance policy comes down to personal preference on how much flexibility you want with the renewal frequency. Where can I buy a 6-month car insurance policy
Some insurance companies offer both annual and six-month policies, and some companies only offer one or the other. Additionally, you may not have a choice as to which policy type to buy; some companies reserve annual policies for standard and preferred customers, while is sold on a six-month policy. If you are specifically looking for a six-month policy term, you may need to reach out to a few companies to confirm that this type of coverage is offered. Six-month policies are fairly common, though, so you shouldn’t have a problem finding one. SHARE: Jessie See has a year of experience writing for Bankrate, Reviews.com and other insurance domains. She has covered topics ranging from auto and homeowner’s insurance to life insurance. She has been writing professionally for over a decade with experience in a variety of different topics and industries. Prior to becoming an insurance writer, she worked as a legal assistant in the field of personal injury law and as a licensed sales producer at various insurance agencies. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Related Articles