How to find cheap no deposit car insurance
I’ve had both cheap auto insurance and expensive auto insurance. I’ve been with as many as seven different auto insurance companies in the past decade and have had mixed experiences as well as many ups and downs with each of them. Whilst all of the companies are essentially the same in that they’re selling auto insurance, they can differ greatly in terms of actual level of service provided.
With some of the companies I paid a lot and received a lot. Another company I paid a lot and received nothing. It always pays to actually read the fine print and make sure you know exactly what you are getting insurance-wise for your money without any misunderstandings or room for error. Some companies I paid very little in way of monthly payments and received both good and bad coverage and service.
One thing that all of the cheaper companies had in common was expensive deposits. Initially, you think you’re getting dirt cheap auto insurance but when you factor in the deposit, it isn’t actually as cheap as you first though. As well as reading the fine print, you should always do the actual financial math and take the time to really work out what you’ll be paying out over the year.
If sitting down with a notepad and working out the exact costs seems daunting to you, or just simply unpleasant, then there may be a better way. You can do what I did.
With my latest insurance company, lucky number eight, I managed to get a cheap monthly rate, decent coverage with low excesses, all without a deposit. Yes, you read that right. No deposit at all.
This makes things far simpler when selecting which company to use, which as we all know can be difficult. Finding cheap car insurance without a deposit completely eliminates a factor in selecting a company. You know what you’re paying for a deposit… because you’re paying nothing.
This also makes it easier to work out exactly how much you’ll be paying without any nasty hidden costs. Take it from me, you can quite easily find a great monthly deal for good auto insurance without having to pay a deposit.