No Down Payment Car Insurance Coverage

If you're looking for information about no down payment coverage, we'll discuss some of the basics below. You may have to meet specific requirements for no down payment car insurance, such as having a particular credit score or owning specific types of cars. However, making a down payment when opening a new policy may save you money in the long run. Learn more about no down payment auto insurance below.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Dec 14, 2021

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The Highlights

  • No down payment coverage is a type of car insurance that typically only requires the first month’s premium before beginning coverage.
  • While it’s hard to estimate no down payment coverage rates, your premiums may be higher than if you make a down payment.
  • You must often meet certain requirements to qualify for no down payment coverage, such as having a certain credit score or owning certain types of cars.

Car insurance can be expensive, so it’s no wonder that most shoppers want to learn as much as possible about saving money and getting the best rates.

Below, we’ll discuss no down payment coverage and whether it’s effective at saving you money on your car insurance policy.

Before you begin reading, enter your ZIP code into our free quote comparison tool to compare car insurance quotes today.

What is no down payment car insurance?

No down payment car insurance is merely referring to a policy that requires no more than the first month’s premium before coverage starts.

Most of the best insurance companies require some money upfront, sometimes in the form of a premium (monthly, quarterly, annually, etc.) or a lump sum in addition to a premium. Therefore, you should always expect to pay some money before your coverage begins.

With this in mind, no down payment coverage doesn’t mean you won’t pay anything; it just means you’ll pay the lowest down payment for auto insurance possible, which is usually equal to the first month’s premium.

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How much does no down payment coverage cost?

It’s difficult to give an exact estimate on what no down payment auto insurance rates may be for you. Factors that can determine your rates include age, gender, location, driving record, and more.

Traditionally, if you make a down payment upon purchasing car insurance, your premiums will be smaller. Therefore, if you choose not to make a down payment, you may pay more on your premiums.

This is similar to someone choosing to make monthly payments versus paying premiums quarterly or annually. While you may save money in the short-term by paying your premium monthly or not making a down payment, over the long-term, you’ll likely be paying more.

How can I get no down payment coverage?

Getting no down payment coverage may be difficult since there are usually specific requirements that you must meet. For example, you might need a particular credit score or own certain types of cars. (Owners of newer cars are less likely to qualify since their vehicles are risky for the insurer.)

No down payment coverage is only available in certain states, including Arizona, California, Florida, Georgia, New York, Oklahoma, and Washington.

You will need to research to find companies that offer no down payment auto insurance. You can also contact an agent, who may find policy options that companies don’t advertise.

Once you identify some possible companies, you should compare no down payment car insurance quotes. If you need help finding affordable no down payment car insurance, enter your ZIP code into our free quote comparison tool below.

Are you looking for free insurance quotes?

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