Millions of motorists are now paying for their car insurance monthly, which is hardly surprising looking at the cost of it. An awful lot of them however have found that they are now paying less for their insurance than before; which is rather paradoxical since many insurers charge extra for monthly payments.
Why? Simple. The switch from paying their usual insurers on a yearly basis has prompted them to use price comparison systems which have not only allowed them to compare the premiums from multiple insurers but also let them compare the monthly repayments, too. They have gained by switching to cheaper insurers, and they have also benefited from the cutthroat competition in the motor insurance business. There is now such a huge proportion of drivers who are no longer happy about paying out for their cover a year in advance that the additional charges which the insurers would like their clients to pay for the privilege of spreading the payments over several months have been held in check by competition from their rivals. Insurers are aware that most motorists who buy policies from them are likely to continue to do so for several more years, and they are also aware that the current recession which is obliging so many people to spread payments over longer periods will not last for ever, and so they want their share of that business now.
This is also why so many insurance companies whose products are offered on price comparison sites are prepared to offer introductory discounts to motorists who switch to them (these discounts can often be very considerable indeed) and up to 12 months to pay, with no large deposits necessary. Something which may save you a great deal of money.
Why not compare quotations now? It should only take you a few minutes and you may be surprised at the savings you could make. To get a quotation please click here.
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