Since we moved here in December, a number of years ago, and had to register our car in New York state, our annual car insurance is due in December every year. It is an awful month to have to pay this with all the other expenses for Christmas. But it is what it is. Since we rented an apartment while our house was being built, our homeowners isn't due until March fortunately.
But New York state is expensive for insurance. It is a little under $1000. for our one SUV which is all we have. However we don't carry the minimum of what is required in this state. We carry $250,000. in liability and medical insurance to cover everything in an accident which fortunately we have never had. We also carry collision insurance on our SUV. Even though we pay for our cars in cash and aren't required to carry collision, we do to protect our investment.
Hubby does take a 6 hour course, every three years, mandated by our state to get a reduction in the liability premium. Our insurance would be about $1200. without it.
Last fall, Hubby spent a lot of time checking insurance premiums at different companies to see if we wanted to switch to a different company. What he found was that the amount we insure for was about the same for every company. So we stayed with our insurance carrier who also gives us a number of discounts for various items like having our homeowners policy with them, etc. So we will stick with this company this year and check premiums again next year. Of course, that will happen if our bill hasn't sky rocketed when we get it.
We also always pay the annual premium in full for our car and homeowners insurances. It is more costly to pay semi - annually, quarterly or with monthly payments. Not paying annually is just like paying interest which is something we will never do. Some companies don't charge for payments but most do. So be sure to check with your company and make sure that you are not paying more doing it that way.
We divide our estimated premium by 12 payments and we put that money aside in our account until the bill is due. We do the same for our homeowner's insurance. So when the bills come due, the money is there to pay them.