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Question 13 of 17 in How Rates Are Determined |
Do I save money on service charges if I pay premiums in full rather than on a quarterly or monthly basis? |
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Annual premium payments are usually the most economical. By giving the insurance company the entire year’s premium, you avoid incurring additional administrative charges that add up with quarterly or monthly billing. Many companies charge a much smaller fee if you have your premium deducted automatically from a checking account every month. Check with your company. |
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