Down Payment (Spanish: Enganche de Aseguranza)

Definition

Down Payment, called enganche de aseguranza in Spanish, is the initial payment made when starting a new auto insurance policy in Texas. Non-standard carriers commonly require a down payment equal to one or two monthly premiums to bind coverage. A-LA offers low down payments starting at $28 (one month). The down payment is not a fee — it is the first month's premium paid in advance and credits toward the policy.

Also available in Spanish: Ver en español