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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.

Copyright Jill
Dawson 2012 All Rights Reserved |