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Companies with the best pay-in-full discounts offer a percentage off your premiums when you pay for your annual policy upfront.
Paying for your policy in full will result in a lower rate, but it also ensures that you don't have coverage lapses due to non-payment (Read More: What happens if you don't pay your car insurance premium for your vehicle?).
| Insurance Company | Rank | Savings Potential | A.M. Best | Who Qualifies? |
|---|---|---|---|---|
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#1 | 20% | A | Policyholders who pay the full premium upfront |
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#2 | 15% | A- | Customers paying the annual premium at once |
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#3 | 15% | B | Drivers opting for upfront full payment |
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#4 | 15% | A+ | Customers choosing to pay the total amount |
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#5 | 12% | A | Policyholders paying the full premium upfront |
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#6 | 12% | A++ | Members who pay their premium all at once |
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#7 | 10% | A++ | Policyholders paying their premium in full |
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#8 | 10% | A+ | Drivers who pay their policy in full |
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#9 | 10% | A | Drivers paying their insurance premium in full |
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#10 | 5% | A+ | Drivers choosing the pay-in-full option |
We will guide you through how to get a discount for paying in full at the best companies, as well as other great ways to save on your car insurance premiums. Want to find a new provider with great rates today? Use our free tool to get started.
What You Should Know
- State Farm has the best full payment discount of 20%
- Most companies offer a discount for full payment
- Paying in full ensures there are no coverage lapses
The Best Companies for Pay-In-Full Discounts
Rates at the best pay-in-full discount companies vary based on several factors, with your driving record being the most important. Learn what is considered a clean driving record to get the best rates.
It's crucial to consider rates before any discounts are applied, as a large discount may not lower your costs significantly if a company's base rates are already expensive.
Now that you have an idea of which companies are the most expensive for different driving records, let's see how much the paid-in-full discounts take off the best companies' average rates.
| Insurance Company | Before Discount | Pay-in-Full Discount | After Discount |
|---|---|---|---|
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$150 | 10% | $135 |
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$145 | 20% | $133 |
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$160 | 10% | $152 |
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$120 | 10% | $105 |
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$170 | 12% | $158 |
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$140 | 15% | $131 |
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$135 | 15% | $122 |
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$125 | 15% | $115 |
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$155 | 5% | $147 |
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$130 | 12% | $114 |
If your insurance provider isn't on our list of the best pay-in-full discount companies, this doesn't mean your current provider doesn't offer one. To confirm available insurance discounts, call your insurer to ask if they offer a paid-in-full discount. If so, you can pay in full at your next renewal for a discounted rate.
How to Get a Pay-In-Full Car Insurance Discount
If your insurance company offers a pay-in-full auto insurance discount, you simply need to pay your policy premium upfront rather than in monthly installment payments.
Insurance companies prefer payment in full, as it ensures there are no payment lapses that may result in policy cancellation. Customers with frequent coverage lapses may be labeled as high-risk drivers and need to purchase expensive SR-22 insurance.
If your insurance company offers this discount, it will be applied automatically if you pay in full at renewal. If it is not, call your insurance company for assistance.
Other Top Car Insurance Discounts
Paying in full is just one of the six car insurance discounts you should ask about (Read More: 6 Hacks to Save Money on Your Car Insurance Rates). Some more of the best car insurance discounts to check out include:
- Anti-Theft Discount
- Bundling Discount
- Good Driver Discount
- Good Student Discount
- Low Mileage Discount
Most auto insurance companies offer several discounts to keep rates low for responsible drivers.
For instance, several providers offer bundling auto and home insurance discounts for customers who purchase multiple types of policies from a company.
Securing a Pay-In-Full Discount on Car Insurance
The best pay-in-full insurance discounts will be applied automatically to your premium at the best car insurance companies when you pay in a lump sum. If you aren't sure if your provider offers this discount, give them a call to inquire.
You can also ask about other insurance company discounts to take advantage of, as discounts are one of the top ways customers have saved money on car insurance.
Looking to find a provider that offers a better discount when you pay in full? Compare rates from providers near you with our free quote tool.
Frequently Asked Questions
Is there a discount for paying car insurance in full?
Yes, you can get a discount at most companies if you pay in full. The discount will automatically be applied to your premium rate in most cases.
Is it cheaper to pay in full for insurance?
Yes, it is usually cheaper to pay in full, as most companies offer a paid-in-full discount. This is one of the hidden auto insurance discounts that most customers may not know about, but it can save you money and eliminate payment and coverage lapses.
How can I pay less for full coverage car insurance?
You can pay less for full coverage auto insurance by paying in full instead of monthly payments. It is also helpful to periodically shop around at different companies to see if you can get a better rate (Learn More: Ultimate Guide to Switching Car Insurance Companies and Saving Money).
How much is the Allstate full pay discount?
The Allstate Insurance paid-in-full discount is 10%.
How much is Progressive paid in full discount?
The Progressive pay-in-full discount is 15%.
Does Progressive make you pay upfront?
No, Progressive Insurance does not make you pay upfront in a lump sum. You can choose to pay in monthly installments, however, you won't get the paid-in-full discount.
Is it cheaper to pay in full with Geico?
Yes, it is cheaper to pay in full at Geico, as they have a 10% discount for payment in full.
Does Geico offer a discount for paying in full?
Yes, Geico offers a discount to customers who pay for their policy in full. Geico also offers a bundling discount if you buy Geico renters insurance or home insurance with auto coverage.
Is it better to pay car insurance monthly or every 6 months?
If your policy period is six months, it is cheaper to pay for the entire policy period if there is a discount. However, if you can't afford the lump sum payment, then monthly payments may be the better option for you. Shop for affordable car insurance today by comparing quotes with our free tool.
What is an insurance discount vs. insurance paid?
An insurance discount is a reduction in the rates of your premium. Insurance paid simply means the amount your insurance paid to a provider. This term is commonly used for health insurance discounts. Use our guide to find affordable health insurance.