The benefits of paying for your insurance annually
- Price. Yes, you will typically save money by paying for your insurance annually as opposed to monthly. Another way of looking at it is that your insurance provider will charge you more for the privilege of paying monthly.
Our data shows that between April-July 2016, paying your home insurance with one lump price was on average £22 cheaper than paying monthly installments. This isn’t always the case but is the majority of the time.
- More Choice. Not all insurance providers allow customers to pay monthly. That means that by opting to pay your home insurance annually you give yourself the pick of more deals. Potentially, these could be the best deals available as annual payment is the standard option offered by insurance providers.
- Convenience. If you pay for your home insurance annually you’ll make one payment and then that’s it, it’s out of the way for another year.