No deposit car insurance

Car insurance, paid monthly without a huge deposit

You are probably well aware of the multitude of reasons that insurance companies blame for car insurance being so expensive; fraud, compensation culture, ash clouds, wrong type of snow on the points, you name it and I guarantee that some insurance executive somewhere claims it is the reason why premiums have skyrocketed over the last couple of years. All this is irrelevant, because the only fact that matters is that we all have no choice whatsoever in whether or not we buy car insurance; the chances of getting away with driving without it are slim and getting slimmer with horrendous penalties, so the choice is to either pay up or start walking again. Insurers are well aware that car insurance is now a very major expense for the vast majority of British motorists so a lot of them are making it as easy as they can for you to buy it, even if you do have to pay a premium equal to the GDP of Iceland.

After centuries of demanding insurance premiums at least a year in advance, and then investing those premiums in stocks, shares and other (hopefully) profitable ventures insurance companies are now far more open to the idea of allowing people to buy insurance with monthly payments instead. This is not because they feel particularly charitable, it is because if they do not do so their competitors will take the business away instead. This means that you can now buy your car insurance with payments spread out throughout the year, and with no thumping great deposit to find at the beginning.

To make things more interesting, there are now a number of price comparison websites that will allow you to not only compare the total cost of policies from a large number of competing insurance companies and brokers, but they will also let you see what the monthly repayments will be as well. Since the initial payment (which can often be as little as 1/12th of the total premium, and sometimes even lower) can be paid by credit card, you don't even have to find this sum yourself until the car payment becomes due, so you should be able to buy your insurance right away, even if, like the rest of us, you are completely broke.

Do please bear in mind that when you compare different policies the cheapest one is not always the best; in fact sometimes a fully comprehensive policy can actually cost less than a third party fire and theft policy from the same company, whilst offering much better benefits! The moral is, check out each quotation carefully and read the policy details so that you are fully aware of just what you are paying for.