Consumers looking to save money and find coverage that fits into their budget should check out very cheap car insurance with no deposit (http://citizensinsurance.net/very-cheap-car-insurance-with-no-deposit). While it is possible to find cheap auto insurance in every state, the term “no deposit auto insurance” is not a normal phrase used by insurers or agents. It is, in general, referred to as policies that do not demand an initial deposit when you apply for coverage. These policies do not cost much more but are not offered by every insurer.
The deposit required to secure coverage will depend on many factors. This includes:
The Insurance Company
The Age of the Driver
The Automobile and whether it is owned, financed or leased
A deposit in select states and carriers, could anywhere from zero down to 33% of the yearly premium. If you have a good driving record and a used car, your down payment should be much lower than your monthly premium. Usually, it’s anywhere from $20 to $50.