No Down Payment Car Insurance

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No Down Payment Car Insurance

Are you looking for cheap car insurance with the lowest down payment possible? If this sounds like you, then a no down payment car insurance policy might be the right choice? The question is, is it even possible to find cheap no down payment auto insurance

Let’s take a deep dive and thoroughly go over your down payment options and what companies offer zero down deals. Enter your zip code and fill out an online quote request to compare the best available options.

No Down Payment Car Insurance

No Down Payment Car Insurance Companies

Not every insurer offers zero down auto insurance deals. Most don’t allow these types of policies. Many companies consider consumers who want a no deposit auto insurance plan as non-profitable and more likely to cancel their policy or not pay their payment on time. 

At GoodtoGoInsurance, we only work with the most reliable insurance companies in the nation. The companies discussed below have built exceptional reputations based on their customer service and the many coverage options available for clients. 

Below is a list of carriers that offer car insurance with no down payment. Only select carriers have these types of policies, and they are only available in several states. 

  • Allstate
  • Progressive
  • State Farm
  • Kemper
  • Safe Auto

Progressive insurance has cheap car insurance with no down payment plans for qualified drivers. If you have a good credit score above 700, are a safe driver with consecutive coverage for five or more years, you should be eligible. Progressive also offers low deposit plans that start at just $20 down payment car insurance.

Other insurers that have some of the lowest rates with zero down payments are Safe Auto and Kemper. Get a free online quote and get matched with the lowest rates for the coverage you need.      

States That Allow No Deposit Auto Insurance

There are only a handful of states that legally allow no deposit car insurance. Most states don’t offer these types of zero-down deals. Currently, seven states that have laws in place that allow insurers to market no deposit auto insurance.  

  • Arizona
  • New York
  • Florida
  • California
  • Georgia
  • Oklahoma
  • Washington

California, the largest state in terms of population and a state with the most motorists, has the most carriers that offer no down payment insurance. It’s essential for California motorists looking for no deposit auto insurance to compare rates from multiple providers. The rate comparison will help find what companies have the best rates along with the lowest deposit required.    

How do Car Insurance Policies Work?

In most cases, insurance companies will require you to pay a portion of your premium before your policy goes into effect. If you are struggling to make ends meet, for any reason, making even the smallest down payment can wreak havoc on your already limited budget. This is especially true for anyone who has recently lost their job and is currently unemployed or is a student low on cash.

It also applies if the reason you are looking for car insurance is you’re in the process of buying a new (or new to you) car. Even if you do have a little bit of cash saved up, there’s a good chance that you’ll have to use most, if not all of it, to put a down payment on your new vehicle.

For anyone, including you, finding the cheapest car insurance with no down payment is an absolute must in one of these situations. If you don’t qualify for no deposit car insurance, companies like Progressive will allow you to pay as little as $20 down to get your policy started. You just have to search and find the best deals. 

That’s where GoodtoGo car insurance can help. We can help you find cheap car insurance with nothing down in about five minutes. Enter your zip code and compare side-by-side rates in less than five minutes.  

Finding the Best Policy You Need at the Right Price

Good to Go Insurance can help you get personalized quotes for a policy that provides you with the car insurance coverage you need at a price you can afford. To ensure an accurate quote, you will want to have the following information before you get started.

For the driver:

  • Full name
  • Address
  • Phone number
  • Age and birthdate
  • Gender
  • Marital status
  • Driver’s license number

For the vehicle you are Insuring:

  • Date of manufacture
  • Make and model
  • Vehicle identification number (VIN)

If you have a more than five-year-old vehicle and it is worth less than $8,000, you have a better chance of getting cheap car insurance with no deposit. On the other hand, if you are insuring an expensive new or used vehicle with more than $20,000, it can be complicated to find coverage without making a deposit.  

Can You Find No Down Payment Car Insurance?

While you may occasionally find a car insurance company willing to give you a policy without paying any money upfront, they are not that many. In fact, in many states, $0 down car insurance isn’t legal. What you can find are companies that will activate your policy for as little as $20.

To find the best deal, you will need to start by applying for car insurance quotes from multiple providers online. We give you the ability to do this using your laptop, desktop, iPad, or even your Smartphone. 

Instead of visiting multiple websites and entering your information each time, you’ll only enter it once here. Then, we’ll find the best rates available to you from the nation’s most trusted car insurance providers and compile them. Next, you can compare the offers to see which one is the best one for you.  

Comparing Car Insurance Quotes Online

In addition to saving you the time and hassle of searching multiple sites, there are even more benefits to comparing car insurance quotes online. Here, you’ll be able to choose the specific type of policy you want, as well as your coverage limits and the best payment plan for your financial situation. To compare rates, just fill out a simple application online. It only takes about five minutes, and there is no obligation to buy a policy. If you prefer, you can get quoted over the phone.     

Why Do Insurers Require a Payment to Activate Your Coverage?

It doesn’t make good financial sense for insurance companies to provide someone with car insurance coverage without any type of down payment. After all, if they do this, they are assuming all of the financial risks. 

Here’s a good example. You just bought a new car. Your insurance company agrees to start your coverage without any money down. Just two days later, you total the car worth over $18,000. This leaves the insurance company responsible for paying off the car, despite never receiving any payment type. Insurance companies will not activate an insurance policy without some form of payment first. For zero down car insurance policies, the first payment will be considered the deposit.  

As previously stated, in some states, including GA, NY, CA, WA, OK, AZ, and FL, no down payment car insurance is legal. However, you will still be required to pay a certain amount before your policy goes into effect. 

How is Your Auto Insurance Quote Calculated?

Once you have entered all the pertinent information about yourself, any other drivers on the policy, and the vehicle you are interested in, the insurance companies will evaluate your risk. They will factor in several items to calculate your risk and the premium amount you will be charged, along with the down payment requirement. Drivers who get the cheapest auto insurance with nothing down are usually those who:

  • Are aged 25 or older
  • Have an unblemished driving record (no tickets and no accidents for which you were found to be at fault)
  • Have a good credit score
  • Are looking for a very basic policy
  • Own an automobile that is worth less than $10,000 

Finding the Best Deal for the Coverage, you Need

Even though you now know that it’s difficult to find no down payment car insurance, you shouldn’t worry too much. Insurance companies will usually allow you to divide your quoted price into monthly installment payments. You’ll only be responsible for paying the first month’s payment to have your policy activated.

When looking at the results of your search for car insurance quotes, you should never immediately select the company offering the lowest price. Instead, be certain that the policies are comparable. For example, what type of coverage is involved and or what is the amount of your deductible? If the policies are the same, go with the cheapest. However, if they are different, look at exactly what each policy covers and choose the one that meets your needs.

As mentioned above, GoodToGoInsurance provides quotes from leading insurers that have a longstanding reputation for providing excellent coverage at the lowest rates. Whether you need basic liability insurance with a low deposit or full coverage, we can help you save more. To get started, simply enter your zip code and fill out an application. Get the no down payment car insurance you need for less.