British Motorists Could Save £1.6 Billion Opting for Annual Car Cover Payments
, Car insurance expert at MoneySupermarket, said: " Running a car certainly isn't cheap, and while insurance premiums have fallen steadily recently, the benefit of that is unfortunately diminished by the rising cost of fuel and other motoring costs. It can be a huge strain on a family's finances by paying an upfront annual premium for car insurance therefore, spreading the cost and paying monthly is a way to ease this burden. However, it could end up costing you more in the long run.
"A handful of insurers refrain from doing so, but more often than not an additional cost will be applied if you opt for paying monthly rather than annually. The analysis clearly shows there are definite cost benefits overall to paying annually.
"Cash strapped motorists could consider other financially-savvy ways to spread the cost of their premium, such as using a zero per cent purchase credit card. Putting the cost of the premium on to a zero per cent purchase credit card, such as the Tesco Bank Clubcard Credit Card which offers 0 per cent on purchases for 16 months, allows drivers to spread the cost of their premium, effectively paying monthly without the additional interest. There are a number of zero per cent purchase cards on the market, so if you are eligible, you'll only pay for the original price of your policy, although your insurer may charge a small fee if you pay via a credit card. If you choose to pay using this method, you will need to be disciplined. Paying the balance off in full within 12 months will ensure that you won't be paying for this policy when your new one kicks in."
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Affordable Auto Insurance – How to Pay 50% Less Than Your Friends Do
There are people who are not content with their car insurance because of its high cost. Before renewing your car insurance policy make sure to review other rates from different insurance companies to find out if there are lower costs and more affordable auto insurance plans than what you have at present.
Remember that finding affordable car insurance is not that hard if you know what to do and where to start looking and there is nothing more annoying than finding out that a friend or neighbor has got insurance at half the price just by looking around.
There are two reasons on why you should start looking for affordable car insurance policies and find out their benefits. The first reason is that insurance companies will have different benefits and deals for different customers.
These rates will differ between each offer, depending on the insurance agent or promotional methods. There are a lot of discounts you can get when it comes to purchasing an insurance plan. These discounts can reach up to 50% and the benefits will not change. You just need to know how to get them.
The second reason concerns your personal status or financial status. If you are paying monthly for your cover you need to check the interest on the payments. Some companies charge a high rate and if your credit score is not to their liking they will hike the interest even further. Either pay in a lump sum or find an insurer that will let you pay monthly.
How do you do this?
You should know where to find affordable car insurance plans. The best way to do this is on the internet. Finding auto insurance online will allow you to purchase the cheapest there is. Not only that, you will also know more about the benefits, details and cover that you cannot find anywhere else.
You will also be able to save time and money. You won’t even have to leave your home and you will not have to spend hours making one phone call after another, or driving around from one insurer to the next.