Can I save money by paying for home insurance annually?

Can I save money by paying for home insurance annually?

When comparing your home insurance costs you’ll typically be given two payment options – pay the total balance up front or spread the payment over monthly instalments. But which is better value?

Chris King From the Home team
2
minute read
posted

Cons:

Upfront payment – you'll need to pay a lump sum for the year all at once, and you might not have the spare cash.

Harder to budget – you need to make sure that you have enough to pay for another year when your annual payment runs out.

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Benefits of paying for home insurance monthly

The major advantage of paying for your home insurance monthly is that you can spread the cost over manageable payments. This can make household budgeting easier as you can add the amount to your monthly outgoings.

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Comparing home insurance

Whether you think you want to pay for your home insurance annually or monthly, it’s always a good idea to compare prices. It’s simple with Compare the Market – compare home insurance now.