Insurance Quote — Making Your Premium Payments Once Every Year Will Save You A Lot
Electing to pay your rates on a monthly basis leads to a more expensive insurance quote than you would attract if you choose to pay yearly. This is because posting 12 payment notices by mail monthly costs your insurance company a lot.
As if that was NOT enough expense, each check you send attracts a transaction charge as well. They pay transaction fees twelve times instead of once a year for monthly payments. And as with everything else, it’s you the client or insured who will be responsible for that cost.
Therefore, you will get cheaper premiums if you choose to pay your premiums anually. The real amount you could save might differ but expect to save up to a month’s premium worth with some insurance companies if you settle for this option.
