Although my auto insurance will cost about $3,600 for the year, I can pay the total amount in six installments. Unfortunately, the first installment is higher due to the inclusion of a “deposit.” I need to send in $1,147 for my auto insurance this month. The good news is that I should be able to renegotiate my rate or shop around in May, when I’m out of the “state pool.” I hope that I’ll be able to find something significantly cheaper, but I know it’s going to be difficult.
Updated March 5, 2014 and originally published March 9, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.