Pay monthly car insurance
Compare pay monthly car insurance deals
Insurance is a legally binding contract. In order to validate the contract an amount of money needs to change hands at the beginning. When car insurance was first introduced you needed to pay the whole term of the contract up front. As the popularity of direct debit has risen people have started to pay monthly for car insurance. This has benefitted the insured as paying a lump sum for annual car insurance is not an option. It has also benefited the car insurance companies. With pay monthly car insurance an insurer can potentially carry the incoming premiums over to a new banking year. This makes them a more stable business giving them a better credit rating. This is one of the reasons all the major car companies offer direct debit payments for car insurance.
Pay monthly car insurance direct from the insurer
If you are looking for insurance there are currently a mind boggling number of options. However, if you look a little deeper the difference isn’t that dramatic. You have three choices were to get your initial quote: direct from the insurer, from a broker or from a comparison service. Of the insurers available we have chosen More Than as our direct broker partner. Since we started this organisation in 2002 on average around 8% of users who visited the More Than site have taken out a pay monthly car insurance policy with them. Their popularity amongst our readers has ensured their continued inclusion.
Pay monthly car insurance direct from a brokerage
A brokerage has a panel of insurers that they check your policy information against. They are the original version of the modern comparison engine. Set up by financial advisers with good links to insurance providers, they could find the best deals. They now resemble insurance comparison sites quite closely. The do include monthly car insurance options on their quotation comparison page. The benefits of this type of using a broker are limited as they’re insurers will be included in a comparison engine.
Pay monthly car insurance direct form a comparison site
A comparison service will cover the entire major insurer plus the majority of the small insurers. On the final quotation page pay monthly insurance deals are included. We have chosen Quote Zone as our comparison partner. Comparison sites are currently comparing around 100 different insurers. Given the similarity in their insurance panel, we have chosen Quote Zone due to their “one-click” quote service. This has made getting the cheapest quote simple and fast.