If I pay my auto insurance premium in-full as opposed to making monthly payments- will I save money overall?

Yes- in most cases at least, insurance companies reward drivers for paying their premium in full as opposed to paying it on a monthly basis.

While it may not be a huge discount, it could mean saving up to seven or eight dollars each month for some drivers, which over the year begins to add up.

Ask your auto insurance company what type of discount they offer for paying in full. If you cannot pay your next premium in full for financial reasons, start socking away some money so that when your renewal comes around you might be able to pay that one in full. Then, put side your premium amount each month and you should have your next premium saved up by the following renewal. The same goes for homeowners insurance as well.