You will get lower insurance quotes Los Angeles if you elect to pay your rates annually and not every month. A major reason for this is the cost an insurer incurs by sending you twelve payment notices instead of just one each year.
If you include the fact that each check you give is seen as a transaction by their bankers, you’ll see that they still pay some more on transaction fees for each check you pay in. Twelve checks mean Twelve transactions and will draw 12 separate fees.. And, if you really come to think of it, these additional costs are eventually built into your rates.
Therefore choose yearly payments instead if you intend to make savings this way. You could save up to a month’s premium in just a single year.