Frieda Reiss, WalletHub Credit Card Analyst
It’s highly unlikely that you will find $20 down payment car insurance. Major national insurers don’t offer initial payments this low. For a policy with a monthly payment plan, a standard first payment will range from $80 to $120. But if you buy only the minimum coverage required in your state and you have a good driving record, that first payment could be as low as $50.
If you are having trouble affording car insurance, three states provide government-sponsored automobile insurance to help low-income drivers: California, New Jersey and Hawaii.
Another option is pay-per-mile auto insurance. You can get very low rates by leaving your car in the garage most of the time and using alternative transportation, such as buses, subways, Uber or Lyft, and bicycles. MetroMile, a company that specializes in pay-per-mile policies, estimates that its customers can save 40% to 50% on premiums by driving less. Similar programs from other companies include Allstate Milewise and Esurance Pay Per Mile.
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